- August 1, 2011 at 6:10 pm #228390
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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