HELOC - Rental property
- Thread starter cmontminy
- Start date
- Joined
- Dec 4, 2007
- Messages
- 261
Yes if you have enough (full or just for down payment) you could certainly do so via a HELOC or refinance. Interms of regulation, the bank honors this and I have done it many times. Just make sure your number still works accounting the interest paid on it.
Regards
Jason
Regards
Jason
- Joined
- Oct 16, 2007
- Messages
- 758
Yes you can.
Most lenders will allow you to use home equity from either your residence or rental property toward a purchase of another investment property. The new loan (or refinance) must be taken into the debt servicing calculation.
Some lenders allow you to access a HELOC at very good rates as a second mortgage. In most cases though, you may have to refinance the first mortgage.
Most lenders will allow you to use home equity from either your residence or rental property toward a purchase of another investment property. The new loan (or refinance) must be taken into the debt servicing calculation.
Some lenders allow you to access a HELOC at very good rates as a second mortgage. In most cases though, you may have to refinance the first mortgage.