Need Advice - HELOC on investment property or Refinance
We recently moved out of our primary residence into a duplex and are house hacking. We have a lot of equity on the home we moved out of and it is now being rented out. We want to invest in other properties and I am looking for a HELOC on that property but it is now considered an investment property. Are there any banks doing HELOC's on investment properties?
The other scenario is to refinance but is it advisable given that we have 4% interest on the remaining mortgage?
Looking for best option. Thanks in advance!
I'd go for the HELOC now. I'll send you a message on a bank that does HELOC's on investment properties
Hi Jeremy, I would also be interested in that info. Thanks.
Quote from @Jeremy Kitchen:
I'd go for the HELOC now. I'll send you a message on a bank that does HELOC's on investment properties
Same here Jeremy. Would love the name of that bank.
You can do a cash-out using a commercial product but nothing is in the 4% at the moment without having to go the ARM route.
Thank you Jeremy!!! I appreciate it.
Hi Jeremy,
Can I have the list of the banks/lenders as well that offer HELOC for investment properties?. My rental properties are in Texas.
I called several banks already and they do not offer HELOCs on investment properties or they do not offer HELOCs in Texas.
@Jeremy Kitchen
Hello I would like the same information also. I’m in a similar situation.
@Jeremy Kitchen also interested. Thanks
I would love that info as well @Jeremy Kitchen Sounds like a match for what I need! Thanks!
Contact Mark McAfee at Valley Bank. He may be able to help or refer you to someone in your farm area. 516 306 0393
- PropertyOnion.com
- (561) 430-2616
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