Good points made by Jennifer and Jacob. Remember that mortgage guidelines recently changed in the past 18 months with the influx of foreclosures, etc. Back in the early nineties people said they were going to rent existing home in order to buy another home, as soon as escrow closed they moved out of other property where value had dropped and let it go back to the bank, usually without even attempting to rent out, etc. Now you must have 25% equity in your current home to not have mortgage payment be counted against you. Otherwise, proposed mortgage payment and existing will be counted against you in qualifying. This is what has kept some out of the market. Decide what the motivation to purchase is. As an owner occupant, investor, etc. Good luck!

You would need to have your income and credit verified. Depending on your credit score it will be determined how much you would need to put down.
Jennifer Anderson, Realtor
Century 21
661-609-4434

If you have the necessary income to qualify for 2 loans nobody can stop you.

First get your self pre-approved and start looking.

I have been to Palmdale and I feel there is a lot of potential in Palmdale. Anyway keep in mind property values are determined by three factors. Location, Location, Location.