6/15/18 Here is my goal: To qualify for a 3rd mortgage loan and buy a 3rd property. As anyone know’s how difficult to get even a first home loan, I intend to figure out how to get multiple. This article is for people with a 700 credit score or better I imagine. *If you are not in the “good credit” bracket today here today, be sure to start that process now. We have a step by step program, to show you exactly how and why to get this done as soon as possible! This information is completely free by the way. Swear on my house(s)! {Link to course or at the very least, get in touch with Lexington Law our preferred guys for the job.}
As any self employed person knows, there is a fine line between reporting too many earnings, and paying large tax bills, and therefor qualifying for larger loans and lines of credit – or – doing the opposite: when a person makes less money as an employee, or a self employed person according to their returns – they pay less tax, but then the bank lends less money and makes it more difficult to secure a loan, and REALLY tough to get a 2nd or 3rd loan.
All that to say, I want to share my thinking, and my journey into getting a 3rd loan. But first you have to understand the current setup. (Remember – I dropped out of high school. If I can do this so can you. I have, and continue to do these things on my own. If you have a partner in crime / hubby / wife, the two of you are better than one and can carry this shit out much faster than I. So take notes.
A Short History:
As you may have read already, in 2010 I bought my first house. This was the bottom of the market. It was not by any genius of my own, but rather, I was lucky, thats it. The stars basically have to align to get your first home. What you need:
- Good Credit (at least 700 more like 750)
- Between 5-20% down payment of total purchase price
- You have to qualify for a home loan, which means your income after taxes and total monthly debt, has to be
*To finally have good credit (it wasn’t always that way – I remember when it was 580 and I could’t rent an apartment)
