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Mortgages for Investment Property
Mortgage Library: Ask a Mortgage Related Question: Answers: Mortgages for Investment Property
I've recently started investing in real estate and would like to leave my current job and do it full-time but I've only been doing it three or four months. Would I be able to qualify for a loan without having a full-time job and only investing in real estate for a few months?
J., as a self-employed person you'd need two years work history to qualify for prime mortgage products. As a new real estate investor, probably the best loan you could qualify for would be a high interest rate 'hard money' loan for 70% of the property's appraised value.
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