Home Buying in Union>Question Details

Shore1709, Home Seller in New Jersey

Does having a reverse mort. hamper the ability to purchase an investment property? i.e. - show up on the credit report etc??

Asked by Shore1709, New Jersey Tue Dec 6, 2011

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Were you able to purchase the investment property last year? If not could you kindly tell us why not? Regards,
0 votes Thank Flag Link Wed Feb 22, 2012
Shore1709 your efforts to purchase an investment property will not be hampered with a reverse mortgage on your credit report if it does appear. If it doesn't be prepared to furnish a copy of your stateemnt, a current tax & insuurce bill so an accurate housing payment can be calculated.
0 votes Thank Flag Link Tue Dec 6, 2011
No it will not hamper if you have the correct DTI and credit score for an investment property.
0 votes Thank Flag Link Tue Dec 6, 2011
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