Updated almost 11 years ago on . Most recent reply
Home equity loans
My wife and I are planning to purchase a primary residential property and we are doing a 20% down payment to not have to pay PMI. If we were to take out a home equity loan with a different lender on that 20% equity to invest in a rental property, would that throw us out of the 20% PMI threshold and making our primary resident lender charging us for PMI? Thank you for answering my question.