Using a Home Equity Loan For a DownpaymentHello.I currently own a home in Bedford MA that has been appraised for 450K. I have a remaining mortgage balance of 320K. Is it possible to take out a home equity loan on this property and use the home equity for a down payment on a larger property. The larger property will then become my primary residence and I will rent the first property. The rental amount will be more than enough to cover the mortgage payment, taxes and the additional payment for the home equity loan/line.Thanks all in advance, any input is greatly appreciated!October 04 2012 - Bedford00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.