One- have enough equity to do a cash out refi or secure a home equity line of credit
Two- qualify carrying both mortgages
Please let me know if you need a few MB recommendations.
(617) 584 0540
There are several things that also need to be considered. Just how much equity do you have on your current residence? If you have less than 25-30%, you might not be able to finance another property. There are several different things that come into play in addition to you using the equity towards downpayment.
Co sider speaking with a Loan Officer and allow them to review all necessary documents to see what your options are. I'm always available if you need someone. Good luck!
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax