Current Underwriting Standards

I have 2 properties right now - the home I live in and a small ranch. The ranch is paid for, and I have over $75K in equity in my home. Rental income from the ranch is $700/ YEAR. I have owned a SFH rental in the past but that was in another financial market era.



Anyway, if I were to buy a 2nd home as a rental, what terms could I expect? 10% down? 20% down? 30 year fixed rates same as for O/O 1st home or higher?



I make a good income, have no debt other than my first mortgage, perfect credit, etc.

Comments(1)

  • joel21st September, 2011

    You might be able to shift monies if you have an equity line also on your existing house.

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