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Updated over 6 years ago on . Most recent reply

User Stats

24
Posts
27
Votes
Justin Petrides
  • Fort Lauderdale, FL
27
Votes |
24
Posts

HELOC and a 2nd mortgage ?

Justin Petrides
  • Fort Lauderdale, FL
Posted
I own a house outright which is valued at $100-120k . What would be the maximum HELOC I could receive? If I used the HELOC money as a down payment on an investment property would I still be able to get a loan to mortgage the rest of my payments? I’m trying to find the easiest way to use none of my money to purchase a rental property (mumti family) valued between $300-400k that I plan on living in and also keeping what is currently my primary residence.

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