Mortgage Sense

How to buy a second home and rent the first

     
How to buy a second home and rent the first

As a homeowner, when you decide it’s time to move on — maybe you’re relocating, moving your growing family to a bigger house, or looking to downsize — you don’t always need to sell your current home in the process. Sometimes, buying a second home while renting out the first also makes sense.

Not only is it a great way to generate new income, there are plenty of other advantages. Let’s walk through the benefits of investing rather than selling, the implications of applying for a new mortgage when you’re already paying off another, and what goes into converting your first home to a rental property.

Continue reading How to buy a second home and rent the first at Movement Mortgage Blog.

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Movement has grown from a small team of 4 to over 4,000 employees with more than 500 locations across 46 states. Inc. Magazine recognized Movement Mortgage as the fastest-growing mortgage bank in the country.

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