No. of Recommendations: 0
My fairly recent experience on second homes is 20% is the minimum downpayment to do it and mortgage companies care about income, not assets. What do the most recent couple of tax returns look like ?


2014 1040 is not done yet, but rough estimate is that pro forma PTI for the two properties plus car loan would be something like 35% of gross. All other tax returns would show far lower.
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.