Taking out Equity from Current Condos - Possible in this Situation?
Income 80k via dividends
1 rental condo value 600k (200k left)
1 principle residence value 700k (310k left)
Is there any way i can pull out the equity to use for the purchase of a new principal residence while keeping the 2 condos as rentals?
My Broker is telling me I would need to re-qualify for pulling out equity, and in the current situation I would not qualify. (since i went self employed ~3 years ago and my ratios would be too high).