To access your home equity without selling, you can explore options like a home equity loan, a line of credit (HELOC), or a cash-out refinance.

Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)

We likely need to look for local lender that is keeping loan in house.  

Loans are nothing more than networking, and strong financials which you look to have on the property.

There was an article published in Sept 2024 that showed the average consumer would save over $10,000 by working with a broker vs a direct lender over the life of their loan.

If you are worried about out of pocket costs, see if maybe a rehab loan is an option to get everything needed done now and refinance in 3 months when everything is complete.

Yeah my goal is around 30% but its hard to achieve, especially using a hard money loan.

Typically you aren't buying a fixer upper with a conventional loan.

 @Raif Jochim without knowing details of each loan, I would almost always choose the primary home.

If you want to find out how much equity you have to see if that’s an option for you, connect with a real estate agent and ask for a professional equity assessment report (PEAR).Who knows, you may find out you have enough equity to buy your next place outright– and with today’s mortgage rates, not having to take out a home loan is pretty incredible.