Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 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!
Most Popular Reply
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
- 6,323
- Votes |
- 7,941
- Posts
#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.