Home Selling in 80916>Question Details

Darcy Ditten…, Other/Just Looking in Colorado Springs, CO

Can I rent a property and buy one at the same time?

Asked by Darcy Dittenber, Colorado Springs, CO Tue Oct 2, 2012

I just refinanced my town-home but have a mother who is in poor health. Need to find a place we can live together. Is there a way to finance a new house and rent out the existing home? The renter would be to pay the mortgage on the town-home since the value of the place has dropped and it will be difficult to sell it without owing on it.

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2
Hi Darcy,
Yes many people are able to do that and I specialize in helping people purchase a second home while keeping their first home as a rental. I have a couple of great local lenders that can get you on the right track to owning two homes. Call me today 719.661.8672 me for a free consultation. Sorry about your mom. I look forward to hearing from you.
Pamela Weatherford
Keller Williams CLients Choice
719.661.8672
http://www.ColoradoSpringsBestRealEstate.com
0 votes Thank Flag Link Wed Oct 3, 2012
It all depends on your debt to income ratio. A lender is a better person to ask this question to as the lending regulations change quite often. The best Colorado Springs lender we use and recommend for all of our lending is Bob Manderfield with Cherry Creek Mortgage. His direct # is 719-339-1933.

If Bob can help you out, I'd love to help you out with your next home purchase! My number is 719-505-5432! Your Realistic and Reliable Realtor!
0 votes Thank Flag Link Tue Oct 2, 2012
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