Hello bigger pockets world I'm a newbie here. I've owned 3 homes and have been doing slow flips over the years. We currently own one rental property and our current home, We have over a $150,000 in equity in both homes combined but are having issues accessing that money. Our current mortgage for our primary does not offer Home equity loans and we do not want to refinance due to the current rates, So my question Can you get a home equity loan from a bank that doesn't currently hold your mortgage? Any other ideas are appreciated! Also our rental has a VA loan and because it's is no longer our primary we are not able to pull equity without refinance as well... thanks for reading, hope everyone is having a great day!!!
@Scarlett Schroeder yes you can absolutely get a heloc from a different bank on your primary, as long as there is nothing in your current Mortgage/Note prohibiting a 2nd lien behind their 1st lien. Stay away from the big banks for the heloc, they don't offer as high of an LTV as a smaller bank or credit union will.