Background.
No debt except the Mortgage: $650/ month. Down to 75,000 from 89,000 (approx). Home is VA.
I make about $70,000 per year.
EQ is 679.
I'm currently deployed with 4 months left.
Goal: to buy another house on 10+ acres. Originally I wanted buy land then build now I'm looking to buy something with a home on it.
The options I'm looking at (from preferred to least preferred)
Option 1. Keep my present house as rental income and look to be qualifies for a second home. I'm looking to get approved for $250,000.
Option 2. Sell my present home and use that money along with what I'm saving here to put down on a new home.
What do I need to get approved for the $250,000 range with and without another VA loan?
Do I need to get my credit score up? How so?
