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09-09-2008, 08:18 PM
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Paid off investment home. Can I take a 1st mortgage on that property or must I
go with a home equity loan? My brother and I need cash for a business venture and would like to take a loan out against an residential investment property that we co-own free and clear. Is our only option a Home Equity Loan? Ideally we would like to take advantage of the lower rates of a standard mortgage.
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09-09-2008, 08:19 PM
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Do either of you live in home? If not, can't get HELOC, but can take out a first mortgage.
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