All Forum Posts by: Michael Kaminski

Already got a HELOC setup, haven't used it, rates almost 8% so wouldn't make sense to use it for DP money on new house if that was what you were suggesting.

Currently we are looking at a new Primary residence around $700k. Current primary appraises around $625k and I owe $100k on it. We currently have one significantly cheaper rental that has been working out well and has put this idea into my head. I've got at 2.29% rate on the current primary and a mortgage payment all in of about $2600. Not many comp rentals in the area of this size to compare to but I'm expecting I can get around $3,500-3,800 in rent.

The flip side of having to take a 7% rate on the new home with only a $100,000 down is weighing heavily on me. I'd imagine the appreciation on my current house over the next few years (if I rent) will wash a lot of that interest away? What would everyone do in this situation? 

As someone new to this and only having two rentals, how does one find MHPs for sale?