All Forum Posts by: Dilip Rangan

I live in the SF bay area and I am looking to buy my first investment property. My primary home currently has equity of about $900K. I am looking to get a HELOC of $500K and use it as a down payment for another home. After the HELOC, the CLTV will be around 83%.

Would appreciate suggestions from experience BPers to lenders who would be able to do this at low rates and possibly lower costs

Thanks in advance

Thank you all for your inputs

Folks,

Newbee here. I bought my primary home last July. Between then and now, the home value has appreciated by about $300K. I am looking to use this $300K equity to buy another rental property.

From my limited knowledge, I have heard about getting a HELOC for $300K, use it as downpayment for a rental property. Is this the best way to go ?

Background Info : Primary residence bought for $2.4M. Loan Amount Outstanding $1.8M. Made $60K worth of improvements. Zillow currently estimates its value at $2.73M. have great Credit History

Thanks in advance for your suggestions.