2nd home purchase (primary residence)

Hello – I have a home that I lived in for 7 year and is now being rented out. I have accrued significant equity in the home. I was trying to access the equity in the home through a HELOC so I can use it for a down payment towards a 2nd home, which will be my new primary residence. I haven’t had luck in finding a vendor for a HELOC.

I have great credit, a nice salary, and minimal credit card debt that could also be taken care of with the HELOC, if needed.

ā€‹

Am I going about this wrong? I moved across the country and renting for the time being, but want to get into another property I own, asap.

Thanks

submitted by /u/mrandmrsnj
[link] [comments]

Hello – I have a home that I lived in for 7 year and is now being rented out. I have accrued significant equity in the home. I was trying to access the equity in the home through a HELOC so I can use it for a down payment towards a 2nd home, which will be my new primary residence. I haven’t had luck in finding a vendor for a HELOC. I have great credit, a nice salary, and minimal credit card debt that could also be taken care of with the HELOC, if needed. ā€‹ Am I going about this wrong? I moved across the country and renting for the time being, but want to get into another property I own, asap. Thanks submitted by /u/mrandmrsnj [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!