Can I use equity in my existing home to get an investment property loan?

Yes, you can use equity in your existing home to get an investment property loan. Equity is the difference between the value of your home and the amount of your mortgage. You can use the equity in your existing home as a deposit for an investment property loan. When you use your existing home equity to purchase an investment property, you will need to get a loan for the full value of the property. This is known as a limited recourse loan. You will be liable for the full loan amount, but the lender will only be able to take the investment property as security if you default on the loan. You will need to consider the costs associated with this type of loan, such as the interest rate, fees and charges, and any additional costs such as insurance. It is important to compare different loan products to ensure you are getting the best deal. You can also check out Goodrate on https://goodrate.com.au/home-loan to see current interest rate offers. When considering an investment property loan, it is important to speak to a financial advisor to ensure you are making the right decision for your financial situation.