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Updated about 4 years ago on . Most recent reply

Ryan Trexler's profile image
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Ryan Trexler
  • from Agawam, MA
  • Member since Dec 9, 2018
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Ryan Trexler's profile image
Ryan Trexler's profile image
Ryan Trexler
  • from Agawam, MA
  • Member since Dec 9, 2018
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Ryan Trexler
  • Agawam, MA
1
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12
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Buying & Selling Real Estate

Home equity to buy new home

Ryan Trexler
  • Agawam, MA
Posted

Hello BP,

My wife and I have about 80K of equity in our home. We are also looking to upgrade but would like to keep the current home as a potential rental. 

What is the best way to take the 80K of equity and put it towards the purchase of a new home? Would you also refinance the current home?

Thanks,

Ryan

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Michael Johnson's profile image
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Michael Johnson
  • Specialist
  • from Marco Island, FL
  • Member since Jun 6, 2016
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Michael Johnson's profile image
Michael Johnson's profile image
Michael Johnson
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  • from Marco Island, FL
  • Member since Jun 6, 2016
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Michael Johnson
  • Specialist
  • Marco Island, FL
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Michael Johnson
  • Specialist
  • Marco Island, FL
Replied

Just remember new mortgage debt has awesome rates, however home prices are typically climbing because of that. 

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