Billings, MT · Member since 2021 · 51 posts · 11 votes
I currently have a HELOC with an outstanding balance on my primary residence. I'm curious if I were to move out of that house but keep it as a long term rental would I be required to close that HELOC? I know most banks don't allow HELOCs on investment properties which I assume it would become classified as in this situation.
@Ethan Griffel Turning the primary residence to an investment property should not affect the HELOC as long as you continue to pay the interest on that line (and the first mortgage, of course). Yes, HELOCs are typically harder to get on investments properties, but some banks do allow them.