Success leveraging equity in home for down payment?
Hi BiggerPockets Team,
I am moving out of state soon to take a new job, and would like to transition my current residence to be a rental. Would also like to use the equity in my current residence as a down payment for the home in my new location. What have you found to be the most effective way to do this in your experience? Which mortgage companies are easiest to work with for this type of transaction? Assuming good credit, what sort of interest rates should I be looking for right now?
For the rental side of this transaction, should I go for traditional tenants with long term contracts? Any success with AirBnB from fellow BiggerPockets members?
Really appreciate any guidance you can provide!
Regards,
Daniel