I am just trying to see what my options are when it comes to purchasing the house and turning it into an investment down the road.

Thanks,Chris @Chris Heinmiller We've been working with our local Habitat to create a program where we could partner to help them expand beyond SFH into multi-family and townhome options.

10% down, 30 year amortization, 6.2% rate, 3 year note, with an option for an additional 3 years.

Hi Brian, It's great to hear that you're exploring your options for purchasing another owner-occupied property in the East Boston/Chelsea area!

It's critical to be informed about these options and to have a strategy in place for requesting injunctive relief if required.When engaging in any business transaction, it is essential to conduct thorough due diligence and be aware of any unique legal considerations that may apply.

Which option is better to build a new one or buy an existing one?

A lot of the time they're not recorded properly and it will make joining the HOA an option, not mandatory.

Be prepared to document where that cash came from - in your case, that's easy, your HELOC.Would be happy to help you with that sort of transaction if you want to reach out - I find a lot loan officers are unfamiliar that this option even exists. 

Have you considered the other options that could work for a family, ex. side by side duplex, house with ADU, house with carriage house, house with a walkout basement, etc?  

Hello Jonathan, I would definitely recommend the low money down option as long as it cashflows.