HELOC on commercial (Primary Residence) Property

[Kelly M.]

Hi,

I would like a HELOC on my primary residence. However, my primary residence is in a historic district and is zoned commercial. I was able to obtain a residential mortgage on it years ago, because it was a 203k and they allowed 33% retail. But, now I would like a HELOC and it seems to be a hard no among the banks because it's commercial zoned. Due to COVID I haven't been able to find a real advocate at the bank. The underwriters said no, but I feel there should be an exception since it's my primary residence, and residential is allowable in this district.

Any feedback would be appreciated.