My fiance and I live in an Apt right now while we are getting on our feet. I have been pre-approved for around 120k for myself. If we wait six months my mortgage broker states that if we get my fiances credit up a little with a card that we buy lunch with once a month and pay it off he can prob get us both around 190k. My question is should we start by finding a smaller property that I can get approved for to invest in and what would the best means of going about this should I do? We have her 2 kids and one of our own on the way so we want to get one for ourselves soon. As I understand it getting your own isn't really investing, but I would rather be putting money into equity rather then my apts hands. We pay 900 a month as is.
My fiance and I live in an Apt right now while we are getting on our feet. I have been pre-approved for around 120k for myself. If we wait six months my mortgage broker states that if we get my fiances credit up a little with a card that we buy lunch with once a month and pay it off he can prob get us both around 190k. My question is should we start by finding a smaller property that I can get approved for to invest in and what would the best means of going about this should I do? We have her 2 kids and one of our own on the way so we want to get one for ourselves soon. As I understand it getting your own isn't really investing, but I would rather be putting money into equity rather then my apts hands. We pay 900 a month as is.