Which Type Of Loan For Rentals? Home Equity? Cash Out?

[Mary Lev]

Hi All!!

I'm looking to purchase a house (all cash), rent the house out and then I would like to purchase another house.  I've read online about Cash-out Refinancing and it definitely seems to fit my needs but I from what I understood you need a mortgage to refinance. 

What are my other options? Is delayed refinancing recommended? Will the bank treat me differently for renting the house out?

Thanks in Advance!    

[Michele B.]

You can do cash out refinancing. Or you could do delayed financing.  Either will work.  The bank will loan you a percentage of what the cash purchase or the verified amount of the home.