Are there any special loan programs to buy a house then rent it out?
I was just wondering. I want to purchace some realestate but I don’t want to live in it, I want to rent it out. Is it easier to be approved for a loan this way. I don’t think I would have any problems. However, I was just wondering. I will be a first time buyer as well. Thanks community
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January 12th, 2011 at 7:09 am
No special programs in particular but the lender will give you an increase in interest rate if they know its an income producing property because they consider it a risky loan if your not living in the home, but in your case you dont yet own a home so there should be know issues there.