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Updated almost 2 years ago,
Advice on what type of loan would best fit
Hi, I am looking for some advice on which type of loan I should get for my next rental investment. I currently only have one rental which I got using an FHA(duplex) theres some equity in it I want to tap into. I have a pretty good interest rate 2.9% which is why I dont think a cash out refinance would be good considering todays rates. And with a HELOC, the research I have done says its hard and very few lenders will do a HELOC on a investment property. Also fees seem quite high. I want to tap into this equity and fund my next rental. Just looking for some advice here, as I am only on my first rental and dont have a ton of experience with loans, etc.
Thanks,