买新房子 downpayment 问题

向大家请教一个买房子初级问题：

我们想买一个稍大一点的房子， but we don't have enough cash for 20% down payment. We have some equity in our current house. We plan to rent out our current house after we move to the new house. I also checked with a mortgage broker and was told that we are qualified to apply for mortgage loan for the full amount of the new house.

Which of the following options makes more sense:

1. Apply for Home Equity Loan from the current house and use the money to make up for 20% down payment.

2. Apply for a large mortgage loan with only 5 to 10% down pay and pay Mortgage Insurance on the new loan.

3. Any other options?

Thank you so much for your input!

所有跟帖： 

• 4. Increase home price and ask the owner cash back the differenc -tianfangye- ♂ (0 bytes) () 10/30/2012 postreply 15:38:17

• 80% 1st mortgage + 10% 2nd mortgage -sneezy888- ♂ (64 bytes) () 10/30/2012 postreply 16:16:51

• 回复：80% 1st mortgage + 10% 2nd mortgage -ggjj77- ♂ (54 bytes) () 10/30/2012 postreply 18:17:16

• 自住的（或第2房）很多银行只要求少于20%就行了。记得TD bank 是这样的。怎么搞下也不必须买贷款保险的。你可以去问问。。。 -MrsKwok- ♀ (0 bytes) () 10/30/2012 postreply 16:16:52

• 回复：买新房子 downpayment 问题 -ggjj77- ♂ (170 bytes) () 10/30/2012 postreply 18:33:37

• 谢谢大家帮我出主意！ -raymom- ♀ (208 bytes) () 10/30/2012 postreply 19:26:04