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Updated about 1 year ago on . Most recent reply
Second position mortgages
Hi, I am located in Massachusetts and looking for information on finding a lender that will do either second position loans on investment properties in order to help with down payment or cross collateral lending to finance another multifamily property.
Most Popular Reply
Jonathan Bombaci
Property Manager
Agent
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- Real Estate Agent
- Lowell, MA
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I would start with that bank that holds current mortgage. If they don't do it then try the larger commercial banks like Eastern Bank, Fidelity Bank, Leader Bank, and let them know you'll use the HELOC to buy another property and would want them to do the mortgage. You're looking for a partner not a 1 time loan. Then just be sure to back it up.
Best,
Jon
- Jonathan Bombaci
- [email protected]
- 978-710-8611
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