I bought the first one relatively cheap at 90000, and in one year the value went up to 150,000. I recently found a renter for it that offered 1500 a month, my mortgage and HOA is only 800. I am trying to get another place in the 150,000 range. Is there a way that I can keep the two mortgage payments separate so I can pay one down quicker? I also want to get the new home with my VA loan. The first one was conventional.
Edit: I've paid the first loan down to 65,000 in less than two years, if that helps me.
NATIONWIDE HARD MONEY & PRIVATE LENDING SOURCES
Submit one inquiry – Connect to multiple nationwide funding sources
A loan from a private lender is an asset-based loan secured by real property. Because the loan is secured by the value of the property, income verification and credit scores are not usually the primary deciding factors in credit extension.
- Terms ranging from short term 12 month loans to 30 year loans
- Loans starting at $75,000
- No income verification loans
- Asset-based lending with minimal credit score requirements
- Rates starting at only 4.99% for longer term loans
- Interest only loan options