Please consult an experienced mortgage professional in this changing market. The guidelines have adjusted and make the purchase of 2nd homes (or investment homes) more difficult.
Please contact me at (925) 407-7987 if I can be of further assistance.
Realtor, Empire Realty Associates
One question to you would be is the status of the value of your current residence. This may come into play with the Fannie Freddie Buy and Bail guidelines. If you would like further information I would be happy to guide you throughout the process and present you with your best options.