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re: Home Buying Scenario while renting current house

Posted on 6/21/12 at 8:37 am to
Posted by nrtiger
Paradise
Member since Nov 2003
1337 posts
Posted on 6/21/12 at 8:37 am to
No I want to pull the equity out of my current house, about $115,000 and put it towards a down payment on a new home. I would then rent my current house.
Posted by reb13
Member since May 2010
10905 posts
Posted on 6/21/12 at 8:40 am to
quote:

No I want to pull the equity out of my current house, about $115,000 and put it towards a down payment on a new home. I would then rent my current house.


The only ways to get the cash necessary to put a down payment would be to 1) mortgage the house up to FV or 2) Sell the house.
Posted by yellowfin
Coastal Bar
Member since May 2006
97718 posts
Posted on 6/21/12 at 8:41 am to
home equity loan
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