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If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?

Question by indygyal: If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?
I have a 2 family home in Massachusetts. The value is 246,700.00. I owe only 139,000.00. Can i refinance and use equity to buy another home in Florida. I plan on moving to Florida eventually and would like to use the money for a downpayment.

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