We have a vacant house that is currently being renovated and are looking to do a lease option when the renovations are complete. My question is can we get a HELOC if we are also doing a LO? I don't think it would be an issue, however, my husband has concerns and will not feel comfortable moving forward until they are addressed. Maybe one has nothing to do with the other?
Sure. You're HELOC is based on your loan to value. They shouldn't care that you are doing an Lease Option and I wouldn't mention it to the. Just say you are re nting out the property.
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