Cash out refi for down payment on 2nd home

I am looking at buying a second home. I have more than enough equity in my current house for the down payment. Should I take the cash out now if I’m planning on buying in the next year? Or should I wait until I have a house picked out?

I’m not worried about timing the market. I’m worried about the cash out refi effecting my loan for the purchase of a second house. I hope that makes sense.

Thanks in advance!

submitted by /u/CupcakeGrouchy5381
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I am looking at buying a second home. I have more than enough equity in my current house for the down payment. Should I take the cash out now if I’m planning on buying in the next year? Or should I wait until I have a house picked out? I’m not worried about timing the market. I’m worried about the cash out refi effecting my loan for the purchase of a second house. I hope that makes sense. Thanks in advance! submitted by /u/CupcakeGrouchy5381 [link] [comments]

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