I would consider a home equity loan on your current house. It is not a new mortgage, just line of credit loan against the equity in your present home. Cost should be very little, perhaps $500.00, since the bank only has to do an appraisal on your current home. Interest rate should be relatively low. If you have enough equity in your current house, you could pay cash for your TV house. When the “up north” house sells, you will be required to pay off the equity loan as well as any outstanding mortgage you have. In the mean time, the monthly payments on the home equity loan would only be 1 to 1-1/2 percent of the amount of the loan.
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