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Updated almost 2 years ago on . Most recent reply
Getting Heloc or DSCR to purchase a rental property
Hi All,
I am trying to get advice on getting either a Heloc or DSCR loan (welcome other suggestions). I currently have a condo in NY that is fully paid off and I am hoping to get a Heloc or DSCR to get some cash out to get a rental property in either Texas or Arkansas. Looking for advice on the best way to do this .
thanks!
-Edwin
Most Popular Reply
Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Are you currently occupying the condo? If so, then you can't do DSCR (non-owner occupied only) and HELOC would probably be your best bet