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Updated almost 10 years ago on . Most recent reply

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Jim Collison
  • Southern New Jersey
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Is it wise to take out Home Equity Loan for Investment Property Down Payment?

Jim Collison
  • Southern New Jersey
Posted

Good Morning Everyone, 

Been recently reading these forums and they are an awesome place, especially for a newb like me. I have a question that is specific to my situation and getting started in REI. Since college, I have wanted to start in REI and my first home was a foreclosure. That is my limited background:)

The foreclosure I bought a few years ago, value is higher now (due to having 15 year mortgage and the market improvement).  Would it ever advisable to take out a home equity loan for the down payment on Investment Property?  Or will the banks I am trying to finance through view this as being too leveraged?

Thanks for your time!!

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