Updated almost 8 years ago on . Most recent reply
Financing in my second property
Hi, So I purchase my first duplex by putting 5% down on a WHEDA loan and househacking in September 2017. I would like to purchase more properties but my financing requires me to live in the property during the duration of the loan. What should I consider doing next? Purchasing my next property with 20% down or refinancing my current property and moving into the next property to receive better financing terms. What are the typical seasoning periods and what should I expect for fees. I am doing this in Milwaukee Wisconsin.
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#5 All Forums Contributor
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#5 All Forums Contributor
- Investor and Real Estate Agent
- Milwaukee - Mequon, WI
@Kevin Korntved - househack again, no question about it. It is the single best way to get a portfolio started. Refi out of the Wheda loan, and then buy #2 again with owner occupant low down loan and move in. BTW I could have referred you to a lender that does 5% down conventional. Chances are that will appraise a bit better than last year, especially if you have done some work. PM me for details.
- Marcus Auerbach
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- 262 671 6868
