Lease option & HELOC
1 Reply
Kim Horn
from Sweet Home, Oregon
posted over 2 years ago
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?
Jim Pellerin
Real Estate Consultant from USA
replied over 2 years ago
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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