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Updated over 4 years ago on . Most recent reply

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HELOC? Home paid off

Posted

Having a home paid in full, no mortgage. The home is filled with equity. It was a custom home build in a good area. Never have we got a appraisal to see market value. First step is to get the appraisal and paper document stating the value of the home. I would like to buy a second home for rental income. At least 1 home if not two. Would o do a cash out refinance or a HELOC? What are my options and who do I talk to to get equity pulled? Should I get a trusted real estate agent. Go down to local banks of lenders with my appraisal? What is my best option to get 1-2 property's at least one for cash or a good portion for a down payment.

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