Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Can we use equity as down payment to buy a second home?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]1) you can either refinance up to 80% value and take money out for the down payment 2) you can take out a HELOC (Home Equity Line of Credit) and use that as a downpayment In both cases, the bank approving your second mortgage will look at if you can afford both mortgages on your current income. Yes I know you plan to rent it out but it has no rental history, nothing to show you will be able to rent it or how much you can rent it for. So can you afford both mortgages on your current income without considering rental income?[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
