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Updated about 6 years ago,
burr or cash for investment property
I was looking at an investment property to BURR. Sale price is $56k i called one mortgage company and they said it will be really hard to find a lender if the loan is less than $75k. my plan was to use a HELOC for a down payment and finance the rest. They suggested I should rather refinance my current home to pay cash on the investment property. Any advice will help, thanks