second mortgage options?

Investment loans will require a minimum 20% down for a single family, and 2 to 4 units will require a minimum of 25% down, so if you find a duplex in the $60K price range, you have enough down payment.. otherwise, you will need more cash.. You could do a cash out refinance on your existing property and use those funds to pay cash for the investment property.. Their are other ways to obtain financing, but it's best to talk to a local mortgage broker and get his advice.. once he sees your complete profile, he would be better equipped to answer your questions directly.. you also might check with your accountant to see what the tax consequences would be based on which loan product / strategy you go with.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Archtenna,I can come out and visit you if you'd like. I live in Brigham City. I think it would be best to meet face to face to look at all options. when would a good time be for you?you can call me at 435.764.8709 or go to my website and apply at www.yourmortgageguy.us.

Unfortunately $15K most likely isn't enough for an investment property. However there could be some options to purchase a duplex/triplex/fourplex type property and occupy one of the units. You would need to qualify with the other payment unless the home is totally paid off. You could have some options. Feel free to contact me - I am in Salt Lake - 801-758-9962