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Updated almost 3 years ago,
Getting started with a HELOC
Hey everyone 👋
I am new to investing & looking for guidance or even examples of how to make a heloc work for buying additional real estate.
To keep it brief (I know more detail is probably needed), if I use a heloc (from my primary residence) towards the down payment of 1 or more investment properties how does a bank look at me financing the remainder of the home(s)? Won't my debt to income ratio already he high from the heloc? I am not looking to over leverage myself, and at the same time I don't want to let a lack of education or fear hold me back.
*I'm still in the education phase & not ready to make the leap just yet, but any advice, examples or questions you have for me are greatly appreciated 🙏