Need help calculating how much savings I need to buy a property

Tips and Deals Forums Buying Your Home Need help calculating how much savings I need to buy a property

This topic contains 0 replies, has 1 voice, and was last updated by  mary summers 8 years, 3 months ago.

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    mary summers
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    I had a few questions about buying a home.
    I currently have a duplex that I live in as a primary residence.
    I would be interested in buying another duplex as a primary residence and moving, and renting out my current place.

    How many months of reserves do I need? (that counts my current home loan and the new place?)
    Can I get a 95% LTV loan on a duplex as a primary residence? * Does that change if it is a triplex?
    How long does this money need to be seasoned? *Does it make a difference if it is not seasoned, but I have shown a pattern that I can save aggressively?

    My partner and I live together, and Hayward is a good commute location, so I would want to wait around for a good place in my current area (probably don’t want to deal with a short sale).

    *

    I am mostly trying to figure out how much I need to save, but I have not been able to figure out what kind of LTV I can get with this kind of property, and how long it needs to be seasoned.

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