Updated almost 3 years ago on . Most recent reply
Pros and cons of cross collateral loans
I have a mixed use building with an fha loan that has at least 100k of equity. I have been trying to figure a way to use the equity for another investment property. But a heloc with a mixed use is impossible. Also do not want to cash out refi because I have a 2.75 rate. Debating if I should use a cross collateral loan. Willing to do more research on other loan products as well if anyone has suggestions. This property's deed is under an LLC .
Most Popular Reply
No you cannot borrow 100% on a cross, up to 80%.
FHA loans do not allow LLC vesting. Get that in writing whoever said it's fine.