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Hi,
Can a person have two mortgage loans on two different houses at once?
Can a person have two mortgage loans on two different houses at once?
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Sure. Lots of people have a primary residence and a vacation home or an investment property and have mortgages on both.Originally posted by waynefuller View PostSteve
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Yes,Originally posted by waynefuller View Post
but it depends on your income, your assets, and your debt to income ratio as to whether or not you will qualify.BrianComment
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a co-worker of mine will have 3 mortgage loans out soon. I think its crazy personally... One is rented out. The other 2 will be where he lives while he works and for the other 2/3 of the year, where he lives when he's not working.Comment
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It is true that you will be able to get two mortgages on two different properties. There is law which can debar you from doing that. But in order to do so, you will have to prove that you have excellent financial stability. You should have a safe and secure job, stable income, excellent credit score, required DTI ratio, etc. In the recent times, as people did not have such good credit and financial situation, so most lenders avoided giving two loans.Comment
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Having two mortgages for two different properties is absolutely possible. However, you need to provide documents or proof that you are capable enough in paying those two.Comment
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