HELOC for Multifamily Purchase

[Eddie Veiga]

Good Afternoon. My fiancee and I have an opportunity to purchase a 3 family in a great residential neighborhood. All 3 units are 3 bedrooms and will cashflow. The issue is we own a single family and will have to give a down payment of 25%. We are thinking of taking a HELOC on our single family to use towards the down payment on the multi. My question is if we do that, would we be able to refinance the multi in a year or so, to pay off the HELOC on our single? We have a lender that will lend 100% LTV.

[Aalap Sharma]

Hey I am new to all this so I apologize for a silly question. What do you mean by refi the multi family in a year to pay off the HELOC?