i bought a house back in 06 using VA loan. i want to buy a rental duplex what loan should i get?

hi there: I would recommend a conventional mtg also. With our overlays, if you have not managed any rental properties in the past on your own before, we can still use 75% vacancy factor in qualifying rental income in your debt ratio giving you rental income. Most lenders require that you have 2 yrs of rental management experience. We also can assist in closing costs. Federally Chartered Bank (Mike NMLS #754875) 703 505 5300

What loan to get? First, figure it will likely be a conventional (Fannie/Freddie) loan, and that you'll need at least 20% down. After than, the decision on what type from there (fixed, adjustable) will best be answered after filling out a full application, and a review of your situation with an NMLS licensed professional loan officer. Notice I didn't say just any loan officer. Unfortunately, many bank loan officers are really just glorified application takers. Go to www.NMLSconsumeraccess.org. Type in the name of the loan officers you are thinking of working with. What do you find? Nothing? If nothing, they are not licensed. Don't work with them. If their name is listed, they have taken state and federally mandated education, and passed state and federally mandated tests. If you are sick, do you go to a guy who claims to be a Doctor, or do you go to the guy with his Doctor's license hanging on the wall. I think the choice is obvious. Good luck. Buying in Minnesota or Wisconsin? Visit http://stpaul-mortgage.com