Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Can you use your house as collateral to buy another house?

Can you use your house as collateral to buy another house?

We have a rental house valued at $175,000. We owe $102,000. Can we use this house as collateral to buy another house or is that done any more? We were told we could get an equity loan using that house but I don't want to do that.


Anonymous's picture
Anonymous
28-12-2015

3 Answers
Votes
Older
Newer


1
Which state are you from?

Anonymous | Asked on 2015-12-30


1
You'd need a permission from your first lender before you could use the same house to use it as collateral for another loan. 

Caron | Asked on 2016-01-01


1
No the only way to use that home is to refi it and get some cash to use as a down payment on the new home  a mortgage uses the home it is attached to as the collaroral so there is no way to use one for a second     Good Luck Brian Barnes Mortgages Nationwide Brian@Aimwithfocus.com  

brian1 | Asked on 2016-01-12

Image CAPTCHA
Page loaded in 0.360 seconds.