I'm working on getting a HELOC on my own personal residence. I own 4 rental properties in LLCs in two other states. I'm wondering how a lender factors these rental properties in to my ability to get a personal HELOC?
I'm working on getting a HELOC on my own personal residence. I own 4 rental properties in LLCs in two other states. I'm wondering how a lender factors these rental properties in to my ability to get a personal HELOC?
If you have them for more than 2 years they look at your tax returns to determine whether you are making money or not. I beleive whether they count your paper losses as actual losses or not is determined if your lender has any overlays or not.