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Updated over 6 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
John Hinnegan
  • Brooklyn, NY
1
Votes |
4
Posts

What kind of financing am I looking for?

John Hinnegan
  • Brooklyn, NY
Posted

Hello all. Just trying to figure out who I should be trying to talk to in my situation. I have a house which I bought on a line of credit (low interest rate, but tied to LIBOR). I'd like to cash out what I can and lock in an interest rate for as long as I can. It's tenanted and has been for more than 6 months. My personal income/expenses don't look great -- I'm currently asset-rich and income poor. The house on it's own is doing quite well. 

Given that I won't qualify for a normal mortgage based on my personal income, who are the people I need to be talking to get financing? What kind of financing am I looking for? 

Thanks in advance

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