Quote from @Christina Venegas: Quote from @Dominic Mazzarella: Quote from @Christina Venegas: is it possible to do HELOC on a primary home that was purchased 6 months ago with 5% of down payment, the property was $145k and it was appraised at that time for $160k. i need advice from investors and lenders, if anybody knows some lenders that could help me I would really appreciate it, thanks for taking your time to respondIt’s definitely possible to get a HELOC on a primary home, but most lenders have a seasoning periods which are typically 6-12 months after purchase before they’ll allow it.

Would it be wise to use a HELOC on our current residence to use for a down payment on a new property You can make $ investing anywhere.

All you need is a single place to track tenant information, payment history, maintenance, and a few other things.

By purchasing a multi-unit property, living in one unit, and renting out the others, you can cover your mortgage payments and start building equity while gaining rental income.

Because the interest rates were so low, I was able to keep the same mortgage payment cost we had before but for both houses with a shorter term! 

If you provide your credit score, purchase price,  estimated down payment, property type, occupancy type and desired term, then most lenders should be able to provide you with their current interest rate, any associated points or lender credits for the rate provided, and their total origination fees.   

Any fees for wire transfers or ACH payments?

Originally when they were known as FlipOS, they would split up the interest payments,so I would pay the remaining amount for the month the house was purchased and then the remaining balance on the sale of the home to them.  

@Tyran BlockMake me under 25 again and I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.