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Updated almost 4 years ago,
Is it possible to re-mortgage a vacation house on conventional
Hello! I'm not sure if I'm using the right term, but is it possible to "re-mortgage" a vacation house on conventional terms. Scenario: I purchase a vacation house and close paying cash in full. Turn around and mortgage the house taking out $200K (in cash) to use for other real estate investments. Would I be able to do a conventional, or would this be considered a HELOC? What are other loan options for this scenario so that I have cash on hand for RE investments. Getting confused with reading too much online. Vacation house in Pennsylvania. Thanks for your advice!