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      05-12-2019, 06:51 AM   #144
bimmer456
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Drives: 340i
Join Date: Nov 2016
Location: Pasadena, CA

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Quote:
Originally Posted by Alvinized52 View Post
Quote:
Originally Posted by bimmer456 View Post
There will be a hard inquiry which will lower your score with each heloc. I'm getting my heloc refied because the adjustable rate went up so there was a hard inquiry. If you're using loans to buy the properties you could do a cash out finance to avoid opening another loan.
True... i could do a cashout refi. However, my first mortgages are all currently at 3.5% rate..which i dont want to loses. And im only using the helocs temporarily to flip houses... 3-4 mos tops at a time.
I was saying for now you might have to use a heloc but in buying the new property if the heloc is just a downpayment maybe do a cash out loan to avoid opening another loan. Or maybe you can do on all cash deal and flip it if that's possible with the heloc money.
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