How To Get A Mortgage While Owning A Home....

amynaum

LoanSafe Member
May 4, 2015
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wE have a townhome that is listed for sale. However if we don't sell, we are wondering if we can still get approved for a mortgage while we own a home. We were told no, however, I also heard that if we get someone to rent for a two year contract then tha!t we will be able to get a second mortgage. Any info on this? Thank you
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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San Diego, California
www.loansreduced.com
Hi Amynaum,
Thank you for coming here to ask your questions. At this time I don't have enough information to really give you an answer as to what options you have available.

You can obtain a new mortgage through a refinance if you decide not to sell your property but you will have to take it off the market. I'm not sure where you heard if you got someone to rent the property for 2 years how that would change anything. It might actually make it worse depending on the equity position in your home.

I am a very seasoned mortgage professional and would be happy to go over some information with you regarding your scenario. Feel free to reach out to me directly on my mobile number which is 619.379.8999 or by e-mail at [email protected]