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Question By
keepthinking

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Own home and rent it. Not on mortgage but on HELOC. Want to buy another home.
Not sure if can get a mortgage, not sure what they look for. I do have enough for a down payment but also not looking to live for my home. Would like to buy a multifamily. Would like advise on what type of mortgages to look at and what are my possibilities.

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Conventional

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I am pretty sure the only route you can go is conventional.  This means you need at least a score of 640 and a minimum down of 5%

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keepthinking

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Thanks, my scores with credit karma are in the high 7's but when I just checked my Fico score with Discover I was at a 680 and that was a month ago that it updated. Are conventional loans more stricked. The HELOC is for more money then the mortgage. How would they determine what they will loan you?

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