Looking to take a mortgage out against a house that i already own

3 Replies

Hi everyone, I recently purchased a home in upstate New York with cash that i got from a private investor. In order to pay that investor back i was looking to take out a mortgage against the house that i already own, give the investor his cash back and then pay the house off through that mortgage that I’ll hopefully get. I was wondering if anyone knew the best place to go about getting this mortgage or a place to find the best rates or if what i trying to do is even possible! I️ am new you real-estate investing and am open to any/all the help I can get! Thanks for listening! Best, Tommy Nolan

@Thomas Nolan do you mean you want to take out a mortgage on the home you just bought, or do you have another home you own that you want to put a mortgage on? (Your wording is a little confusing.) 

If it's a home you already own, (not the one you just bought), any traditional bank or mortgage broker would be able to help you out.

Best of luck.