Lender that allows equity as downpayment

[Kevin Boucher]

Hi all,

Does anyone know of a lender that would allow me to use equity in my current properties as a down payment for a new property? 

TIA

[AJ Exner]

Hey Kevin,

I see it happen most often when one (or more) of your other properties are owned free and clear. That way they are taking the equity as a kind of secured 'line of credit' that isn't coming from a second position lien.

Do you have any debt on those properties or are they in a position where you could use some equity as collateral?