I want to know as much as I can.
First say for example I am approved for 100,000 just to make the numbers easy. Can I get 2 homes for 50,000 each. (Please don’t think this is stupid. I geniunely want to know). Perhaps not on the same loan… but is it likely to be approved for 2 smaller loan amounts at the same time. Also, if that is not true. How soon after buying the first home can I be approved to buy a second home? What type of down payment percentage can I expect since they will be investments. (They want 5% on a single loan as primary residence).
How does it work to use rental property income as your income? I.e. how do you suggest to document it? How long do you have to have the income for it to count?
Finally, in the state of MA in particular, how much do you pay for water? Electric? Sewage? Any other costs?
thanks in advance