can a person take out a 2nd mortgage on their home to purchase an investment property?

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can a person take out a 2nd mortgage on their home to purchase an investment property?

and without out of pocket money?

2006-10-09 01:17:56 · 3 answers · asked by DEbbie avr 1 in Business & Finance ➔ Investing

3 answers

You can take a home equity loan on your current property. The amount allowable depends on the state you live in. On home equity loans you are not restricted as to how you use the money. There are also other options I am sure, but you would be best served to speak with a loan counselor for specific information.

2006-10-09 01:26:50 · answer #1 · answered by Bryan 7 · 1⤊ 0⤋

Yes.

2006-10-09 01:41:33 · answer #2 · answered by derek 4 · 0⤊ 0⤋

absolutely.

2006-10-09 03:41:18 · answer #3 · answered by chris 6 · 0⤊ 0⤋