Home Buying in Phelan>Question Details

bertha_rox_11, Home Buyer in Apple Valley, CA

im paying a morgage in riverside ca. can i get a second loan to buy a house in phelan? i would like to own a house on a two or more acre home.

Asked by bertha_rox_11, Apple Valley, CA Tue Jan 31, 2012

Help the community by answering this question:


Depending on your present interest rate on this (or any other home you may own), how much you owe on it and how much equity you have, it may be best to refi your present loan and get the cash out as part of a new first mortgage. Obviously, too, your own qualifications will have a big influence on what you will be able to do.

Talk to a mortgage lender to analyse your options.

Kevin Cotterill
Loan Officer, Riverside
0 votes Thank Flag Link Sat Dec 1, 2012
Hi bertha_rox_11,

You should contact a morgage broker or talk to the loan department at your bank to see if you qualify for another mortgage. If you qualify, you can purchase a second property.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Tue Jan 31, 2012
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