My wife and I house hacked a duplex for our very first home. We renovated the unit we lived in and have had tenants in the other side the entire time. Now we had a job change and have moved out of state so both sides are rented out. We are happy with our investment and plan to renovate the other side sometime in the future. Right now the property cash flows $1,100/month. We want to purchase our next property and are wanting to buy a 3-4 unit but in our area these are over 1 million. We need a large down payment even if we are able to do an FHA mortgage so we are hoping to use the equity in our duplex for the down payment. Do any of you know what lenders will do a HELOC on an investment property? we have searched and called several banks with no success including Bank of America, PNC, Fifth Third, Wells Fargo, Chase First Trust.

We understand that we could do a cash out refinance however the interest rate will be higher than our current mortgage if we do that so it is not ideal. We currently have a conventional mortgage