How Rising Home Prices Can Help You Even If You’re Not Buying Or Selling Your Home
With home prices higher than ever, now is a great time to take cash out of your home equity for investments or other big purchases. In this week’s video, Jamie Cavanaugh describes the DSCR program and how we recently used it to help a client buy an investment property they likely wouldn’t have qualified for otherwise.
Hey everyone it’s Jamie here with Amerifund.
Home prices are at an all time high – which also means that the equity in your home is probably the most it has ever been.
I want to share one of our recent customer success stories that ties right into that subject.
Last month we helped a long time client finance an investment property purchase WITHOUT providing income tax returns. We put this client into a specialized program called DSCR. The DSCR program allows borrowers to qualify using rent forecasts on the property they are buying with a down payment as little as 20%.
So how does this tie into the equity in your current home? Well – this same client took cash out of their primary residence and used that for the entire down payment on the investment purchase.