Posted by A Houston on August 06, 2009 at 14:45:11:
I am trying to find financing for a single-family home that is valued over $125,000.00. I need $35,000 to purchase this home. I also have another property that needs $20,000 worth of impovements with a mortgage balance of $60,000. If improvements were made on this 2nd property, it would be worth close to $175,000. (It is a 2 unit property) I was thinking about the possibility of one loan or mortgage to purchase both properties. I would have cash flow for 2nd property, because I could rent the 2 units and move into the single family home. My credit rating is in the low 500’s (509). I also work 2 jobs with an income. Any advise would be appreciated.