- Joined
- Sep 18, 2007
- Messages
- 119
My finace and i are currently looking to expand our investments into real easte
we have about 160k in equity in our principal residence and are going to buy amother ASAP to rent out.
I am wondering if there are cost effective ways to get our equity out without braking our first mortgage which we would inccur about 30k in penalties.
We are self employed for 3.5yrs which also poses an issue.
We have a approval from our currant lender to give us a no income verification mortgage with 10 percent down. we just dont want to break our existing mort to do it
We have savings to finance the second home but would like to be able to utilize the equity as well to get a third
also looking where to find good tenant contracts and how to do a refernce/background check on prospective tenants.
Thanks in advance for any advice given
we have about 160k in equity in our principal residence and are going to buy amother ASAP to rent out.
I am wondering if there are cost effective ways to get our equity out without braking our first mortgage which we would inccur about 30k in penalties.
We are self employed for 3.5yrs which also poses an issue.
We have a approval from our currant lender to give us a no income verification mortgage with 10 percent down. we just dont want to break our existing mort to do it
We have savings to finance the second home but would like to be able to utilize the equity as well to get a third
also looking where to find good tenant contracts and how to do a refernce/background check on prospective tenants.
Thanks in advance for any advice given