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Hi…. Can i get consumer loan and at the same time get a mortgage… for an investment income property like 4 plex buildin….if yes please give me best answers…any realtors or people have done it
Thanks alot

4 Thoughts on Consumer Loan and mortgage…..?
  1. Reply
    February 1, 2014 at 1:27 pm

    If you are going for a mortgage most lenders do not want to see that you are trying to get another loan. A good way around this is to find a “hard money” lender. Most mortgage brokers can turn you onto one of their favorites. These loans are generally higher in interest with a quicker repayment, but they do not normally base off your credit they go off the equity in the property. If you are going to go with a conventional loan, you are better off waiting until your mortgage has funded…………

  2. Reply
    February 1, 2014 at 2:22 pm

    I don’t really understand the question.

    If you get a mortgage to buy the 4-plex, what’s the consumer loan for? What does it have to do with buying the house?

    If you’re hoping to somehow double up on the financing against that property, it doesn’t work that way.

  3. Reply
    linda w
    February 1, 2014 at 2:56 pm

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