Financing in Antioch>Question Details

Hollie, Home Buyer in Tracy, CA

two loans

Asked by Hollie, Tracy, CA Fri Jun 19, 2009

We submitted loan to a lender for purchasing our primary home. Now we want to buy an investment house. If we submit our loan to other lenders, do we need to tell both lenders that we are buying two houses now?

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2
Yes!!! You should probably wait to purchase the investment property until after the primary closes. This way there isn't any conflict.


chuckb.rwdc@gmail.com
Web Reference: http://www.chuckbaham.com
0 votes Thank Flag Link Fri Jun 19, 2009
For sure! Also, quite often, your interest rate will be higher on the investment property purchase. Make sure you are very truthfull with ALL parties, if not, you may be jeopardizing both loans.

Kamal Randhawa
Broker
510-932-1066
0 votes Thank Flag Link Fri Jun 19, 2009
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