Seeking to Access Equity in Investment Property
I own an investment property in Austin, TX with significant equity that I'd like to access.
The situation: Duplex in which equity is at least 60%, with a 3.87% rate currently, and a Rent:PITI ratio of about 1.35. I have a great credit score and am employed. The only blemish is that a five year tenant recently moved to monthly instead of their typical annual lease.
I'd like to preserve the current rate on my mortgage, which likely leads me to HELOCs, HELs and possibly 2nd lien DSCR, but I am open to any options.
Given that information, what do you recommend? A message with specifics including rates, fees, and other terms , info about your organization, including a website and references would be welcome.
I look forward to hearing from you and working with you.
Best