You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

We are told this policy does not covered asbestos abatement.Please note that we do have Ordinance or Law on this policy that will cover up to 2.5% of the Coverage a-Residence. 

It doesn't help that interest rates are relatively high compared to the last few years and seem to be going up with the new inflation news and such. 

My dad was a contractor, so I've grown up building houses, remodeling, etc.

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.

Feel free to DM me and I can review the micro market with you and wish you luck. 

They have definitely become more challenging since rates have gone up.

My partner grew up in Honolulu, HI so she knew the area and how tourism drives the city there.

If they are elderly or disabled the court can grant them up to a year to remain in place (they do have to pay use and occupancy during that time).

The terms are also similar to conventional investment property loans - 30 year fixed rate, 30 year amortization (or up to 10 years interest-only).