Unable to sell current home, now renting it out
Just wanted some thoughts on this one. I had purchased a new construction home (home B) last year and was intending to sell my current home (home A)prior to possession. I was unable to sell my current home and my mortgage broker was able to approve a financial on the new home by stating i will be renting out the current one.
Are there any ramifications when it comes to mortgage renewal with home A? I also only have ~12% equity on home A and put 5% DP on home B.
Any thoughts on what i have to go through?
Are there any ramifications when it comes to mortgage renewal with home A? I also only have ~12% equity on home A and put 5% DP on home B.
Any thoughts on what i have to go through?
Last edited by aizecarla on Feb 8th, 2018 7:30 am, edited 1 time in total.