Tag Archives: Investment Property

can i use my homes equity to purchase investment property?

Maria M asked: i have a 1st and 2nd mortgage on my home but i have enough equity to purchase or place a down payment on a second home. i’m looking at refi the 2nd mortgage for a line of … Continue reading

Posted in Renting & Real Estate | Tagged , , | Leave a comment

We are buying an investment property. With little to put down, what is the best way to finance the property?

Michael K asked: We have a large amount of equity in our current house. We have no bills other than the mortgage on our current house. Is a home equity loan to get to the 20% down payment and then … Continue reading

Posted in Renting & Real Estate | Tagged , , , , , , , | 4 Comments

Which is Better – Home Equity Loan Or a No Cash Out Refinance?

Jon Spears asked: Every mortgage or refinance needs a target; something larger we’re trying to accomplish beyond just buying/refinancing a home or investment property. The best loan isn’t always the loan with the lowest rate, but the loan that helps … Continue reading

Posted in Finance | Tagged , , , , , , , , , , , , , , | Leave a comment

Can I use interest from home equity loan on a schedule E if 100% of the funds went to purchasing a 2nd home?

xredhat88 asked: I want to buy an investment property I found for $50K. If I take out a home equity loan and use 100% of the money borrowed to buy an investment property can I list the interest I pay … Continue reading

Posted in United States | Tagged , , , , , , , , , , , | 2 Comments

Should I stay away from a second mortgage interest only loan?

dwanal asked: I’ve been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I’ve been told that the 2nd loan is Home equity … Continue reading

Posted in Personal Finance | Tagged , , , , , , , , , , , | 8 Comments

If I purchase a home in all cash would I get a mortgage or home equity loan?

ace3408 asked: I am planning on purchasing an investment property with 100% cash. I can purchase the property at 60% of market value. I then plan on pulling a loan out for 60% of the market value. Would it be … Continue reading

Posted in Renting & Real Estate | Tagged , , , , , , , | 7 Comments

Is this a smart investment , using my home equity?

sparkinharley asked: this property is all long term renters 6 unit Grossing an income of 35,580.00 …per yr . total Operating exp. $13,500 so there is a profit of 22,260.00 which can pay off my home equity loan in a … Continue reading

Posted in Investing | Tagged , , , , , , , , , | 3 Comments