Purchasing a New Primary Residence

If you are looking to buy a second home and wish to keep your previous home as a rental here are your options:

Your primary residence must have 30% equity and an appraisal will be ordered to confirm this. A rental survey will also be ordered so that the mortgage payment can be washed out.

or

Both mortgage payments must be included in qualification.

or

The new property would be purchased as non owner-occupied.

Jane Peters

I am a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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