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Can I use my Home Equity to Buy a Second Home?

Can I use my home equity to buy a second home?

 

I was thinking about buying a second home to maybe use as an investment opportunity. Is there anyway I can use my current home equity to purchase a second home? What are the steps needed to do this if it is possible?

 
Thank you

Answers

By Canadalend
Hi there,
 
Thank you for reaching out to the Canadalend Team.
 

Yes ,you can use your home equity line of credit to go towards a down payment for a second home. Have more questions about home equity lines of credit? Feel free to contact us directly by calling us at: 1-866-422-6536

 
More information about the loan options & mortgage solutions offered through Canadalend can be found here: https://www.canadalend.com/services/
 
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