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re: Suggestion on buying/selling homes?

Posted on 7/30/13 at 8:19 pm to
Posted by ItNeverRains
37069
Member since Oct 2007
25576 posts
Posted on 7/30/13 at 8:19 pm to
quote:

You can't do this. You can only mortgage a percentage of the purchase price, not more than the purchase price. There is no such animal as a cash out mortgage on a purchase. To do a cash out refi later to do what you want you will need to have at least 6 months seasoning on the new mortgage on property 2.


That's what I said, investor loan or private lender.
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