Hi ru,
You will be able to refinance your existing mortgage only if you have equity in your property. You can cash out the equity in your property in order to buy the vacation home. However, you should make sure that you make regular payments on your refinanced mortgage. If you default on your payments, then your primary property will be in jeopardy.
Thanks
You will be able to refinance your existing mortgage only if you have equity in your property. You can cash out the equity in your property in order to buy the vacation home. However, you should make sure that you make regular payments on your refinanced mortgage. If you default on your payments, then your primary property will be in jeopardy.
Thanks