Investment Property Mortgage Down Payment
Can I buy my home equity as an investment property?
I have a first and second mortgage on my house, but I have enough equity to purchase or place a deposit on a second home. I look at refinancing second mortgage for a credit line but was told it is not a good idea because if something goes wrong with the second house, I could lose my principal residence. Am I better a separate loan for an investment property?
Provided You save 25% you can afford to invest your pocket you have nothing …. Anything to not invest. It is really a bad idea, never invest your principal residence.
Pt 2 – Presentation on New Mortgage Qualification Rules
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