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Junior Espinoza
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Finance Option Ideas

Junior Espinoza
Posted Mar 25 2024, 19:40

My boss owner financed the current home im living in for the past year and half. I opened a HELOC on my main property thats in another state to pay for the down payment and remodel. I'm getting ready to payoff the remaining amount this week. Most banks I've talked to require a 6 month seasonal period. I'm wanting to do a cashout refi so I can payoff the line of credit and move on to the next property. I have monthly statements on the numbers I've been paying towards both the heloc and my boss. I plan on still acting as the tenant for now; could a DSCR loan work in this situation, or does anyone have any recommendations. Thanks for any guidance that can be provided.

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