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Updated about 6 years ago,
Primary residence home equity use
I am looking at one of two options.
1) get a HELOC on my primary residence and use it for a 20-25% down payment on a multi family. OR
2) sell our home and use the proceeds for a) 3.5% FHA or 5% conventional down payment on a primary single family to live in for 1 year then rent out PLUS b) 20-25% down payment on a mult family unit.
Thoughts and/or other ideas?