HELOC

[Kathy Crosby]

Hello!

We have two rental properties consolidated into one loan. We have inquired about HELOC on these properties, because we have quite a bit of equity in the houses.

I am being told that we can't get a HELOC on secondary/investment homes. Am I not asking the right question? This seems to be a strategy that has been discussed and not I am attempting to utilize the opportunity and getting nowhere fast.

We are located in Houston TX, if that makes a difference.

Thanks so much!

Kathy

[Sam Craven]

Kathy i dont think you can get a HELOC. What you CAN do is refinance the properties to pull equity. Most local lenders will refinance up to 80% of the total appraised value.

Good luck!