Using cross-collateralization as a method of down payment

[Ilya G.]

1. Hello,
2. I have several SFRs that have lots of equity in them and I wondering if anyone used a method of cross-collateralization to pledge the equity as collateral, thus avoiding doing a cash-out refinance or HELOC. It seems like a good strategy but would appreciate any advice and if anyone worked with banks/lenders that provide a service like that.
3. Thank you in advance!

[Brandon Croucier]

There is a product for this, but honestly its going to be more along the lines of hard money.

You are going to save $$$ by just simply doing a cash out refinance and using that as your down payment; especially if you have good credit.