Refi With A Heloc In Place?
ok heres the scoop. my personal res. has a note at 152500 on a 15 year fixed at 5.25, I have a heloc for 50k. I'm wondering because my house just appraised at 275k if I should refi at 80/20 at 206 and pay off the 50k heloc and then re pull it to buy another property. My question is can I do this or will lending co. see me maxed out on the house or beyond 80/20 with heloc?
can i just leave the 50k heloc and pull the diff between 206and 152? and use the cash from that and keep the heloc maxed?
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