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Updated almost 7 years ago,
A quick question on 2nd property
I bought my 1st property march 2016. Im looking into buying a 2nd primary home and renting out my first property. My question is, can I refi my first home just to get the downpayment? Or should I use a heloc. My home is praised at 200000 and I owe 160000. I asked myrealtor what my home was worth. I need only 5%down for my second mortage as it would be a conventional. I would like to stay under 200k