How much equity in a rent house do you have to have
before you can quality for another mortgage? I'm considering renting out a house that will not sell.What percent equity do I have to have to qualify for another mortgage.I thought it was 10-20%. I don't have to pay PMI anymore after 20%.I want to buy a house to live in and want to know when I would be able to do so if I rent out this house.The house is vacant.I live in rent house in another city.I plan on renting it out for a year or two before I try to get another mortgage.I'll just call my mortgage company.I can afford the double payments, I've been making double house payments for 6 months!If I could get someone to rent the one I own out, it would save me some money.
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06-24-2009, 01:11 PM
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