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  • Profile photo of readytogoreadytogo
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    @readytogo
    Join Date: 2003
    Post Count: 2
    September 12, 2003 - 10:38 pm

    Another way to put it is that I am wondering if I have more negotiating power dealing with the two loans separately. Kind of like how you can generally do better buying a car when you don’t include the trade in as part of the transaction. Shop the HELOC and Mortgage separately. Any opinions?

    Profile photo of readytogoreadytogo
    Member
    @readytogo
    Join Date: 2003
    Post Count: 2
    September 12, 2003 - 10:27 pm

    I guess my concern is that if I don’t get the HELOC first, that when I go to a lender, they may shy away of lending out more than 80% of the value of the new investment property. I guess I should remember that the HELOC is secured by my current home, so perhaps that is not an issue. But would it be simpler to negotiate the terms of the mortgage once I have say $40,000 in cash from HELOC as opposed to trying to negotiate on a HELOC and Mortgage package?

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