Hi, I am interested in purchasing a condo in pre-construction sale at ocean front tourist-location. I currently own 2 properties and have loans against them. What kind of a loan should I be applying for and would I be having any problems in getting the loan? I have a score around 740.
You shouldn’t have any problem getting a loan. If one of your two properties you currently own is not considered your 2nd home, you could classify this new investment as your 2nd home. This would get you better interest rates. What area are you looking at?