Updated almost 9 years ago on . Most recent reply
Asset Based HELOC
Does anyone know of a financial institution that will offer a HELOC on an investment property based solely on the Asset. I was just turned down for a HELOC due to my DTI, since I am trying to get a sizable HELOC ($500k). I have over a $1M in equity on the property and even taking out $500K would leave me with over 30% equity in the property. However my income isn't high enough. Does anyone have ideas on what I can do. I would love to tap into that equity and acquire more property.