I need some advice. I have a two family currently valued at 170 180 ish. It is rented bringing in 1900 a month. The current mortgage is FHA . I am relocating and don't want to sell it but leverage it to buy a primary in my new town. I have spoke with a few lenders and there isn't enough equity for a cash out refinancing . Is there any benefit to refinancing it a different way. Bank service is 1200 a month. Any creative ideas?
Would a HELOC work for your purposes? I've heard of people using them for a down payment on a second property
How much equity do you have in the property?