I want to buy a rental property in my name only
I plan to buy a rental in my name only without my wife. She makes $250k a year while I make $150k and self employed We both have our names on the home now with a $500k mortgage. We currently have a car and boat loan. Is there a chance I can buy the rental with my name only even if I have smaller income? We are getting a divorce and I would keep the property as part of the divorce agreement. by jerome881 from Maricopa, Arizona. Feb 1st 2023
Dave Skow (daveskow)
#1 ranked lender in Washington - 455 contributions
1) yes you can likely buy a rental in you own name 2) min down payment will be 15% of price 3) if divorce proceeds are underway ,,,most lenders will require these are finalized or that a formal seperation agreement exists
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Sure, you can buy the property by yourself in this situation. Just make an application with a local mortgage broker. They will run all your numbers and let you know how much you qualify for. I lend for home loans in MN IA ND SD and WI. Find me at MNbestrates.com | Cambria Mortgage, NMLS 274132
Bob Heidrich | Equal Housing Lender (bob@newwestlending.com)
#211 ranked lender in Arizona - 5 contributions
Hi Jerome, I am a local lender in Central Phoenix. I would be happy to chat with you about your home purchase. Bob Heidrich 602-999-6814 NMLS 142165 New West Lending, Inc. NMLS 164722 7310 N. 16th St. Ste. 170 Phoenix, AZ 85020 AZ-BK0018700 | EQUAL HOUSING OPPORTUNITY
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