Can You Get A Mortgage With Debt? Should You Start Investing While You're in Debt?

Written by: Lorraine
Apprehensive About Investing? Maybe You Don’t Need to Be Can you get a mortgage with debt? Being in debt is bad, right? It raises scepters of villainous debt collectors, receiverships and public auctions, and eventual penury. But I say it is not. Being in debt is a smart way to get ahead in life because, […]
Published on January 25, 2023
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Est. Reading: 2 minutes

Apprehensive About Investing? Maybe You Don’t Need to Be

Can you get a mortgage with debt? Being in debt is bad, right? It raises scepters of villainous debt collectors, receiverships and public auctions, and eventual penury. But I say it is not. Being in debt is a smart way to get ahead in life because, as I read somewhere recently, what you owe today, you own tomorrow. This to me makes sense because being in debt because you took that miraculous 30-year loan is a great idea! So when people ask me about starting to buy rental homes while having prior debt of some sort, I tell them this:

Debt does not preclude investing.

Now if you ask me, can I get a mortgage with debt, I will honestly tell you that a little debt never prevented me from buying rental homes as investments. I've been in moderate debt, while I continued to buy single-family homes as part of my investing portfolio. There is no need to buy into the old-timer view of the dangers of debt. So can you get a mortgage with debt? Borrowing per se is not a problem. It can help you acquire the assets that will help you create financial stability so long as you plan and remain realistic about your prospects.

In fact, borrowing can be a boon – as in the case of the incredible, miraculous 30-year loan. It is this that has the ability to turn your life around. With such a long repayment duration and a payment amount that remains the same, this is one of the most amazing loans available in the world. With this loan, you can break even fairly soon even if you do start with negative cash flows at first.

How to go about investing when you have some debt.

The first thing to do is to make a realistic assessment of the nature of your debt, your current income, and future earnings projections. A small or moderate size debt should not be a hindrance to your plans of real estate investing so long as your family income is adequate enough to cover this. Take into account job stability, the size of your family and their expenses, your spouse's income, and other relevant financial details. You can then decide whether it is prudent to start investing today or to wait for a bit.

We are going to be speaking about whether you can get a mortgage with debt, the importance of the 30-year loan and more in our upcoming property expo. We will have expert guests who will share their insights and experience on investment-related matters for the benefit of our investors. You too can be a part of our online property expo – simply visit our events page and sign up for free. Do it today to change your tomorrow. 

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