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I never bought a house and I want to buy multiple, at least someday. Just want to know for possible future reference.
I've never gotten a mortgage or an auto loan, do they give you the actual cash? If not, what do thy give and how can you possibly buy multiple houses with it?
Thank you.
Start with buying one house and you'll get the hang of it.
Qualifying for a mortgage requires having a relatively decent credit profile supported by multiple tradelines [3 or 4 is good] with a mix of tradelines [revolving, installmant loan, etc] and a middle lender-pulled credit score in the mid 600s.
The proceeds from a mortgage loan is delivered to the seller of the home that you buy.
I will start with one or two, depending on different factors and how it actually works.
I really would like to know how it works though. I'm likely not going to be able to afford two and depending on how it actually does work, I may choose one even if I could afford more.
sit down with a lender.......
if you know a realtor, they can refer you