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Updated about 1 year ago on . Most recent reply
Seeking Advice on Tapping Home Equity for Real Estate Investment
Hey everyone,
I'm diving into real estate investing and considering tapping into my home equity via a HELOC to fund the down payment for my first rental property. I'm wondering if anyone has experience with this – do I need to use the same lender for both the HELOC and mortgage application? Any insights or advice on navigating this process would be greatly appreciated!
Thanks in advance!
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Nixon C. you certainly don't HAVE to use the same lender for both products but you can if you wanted to. I would recommend asking your realtor who they would use for a lender when purchasing an investment property. And then ask that lender if they write both products. I want you to work with someone that is referred first. It may not be foolproof but it should help with getting to someone good a little sooner.
Hope all of that makes sense.