Private Lending & Conventional Mortgage Advice

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Daniel Kokodoko
  • Oakland, CA
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HELOC on rental properties

Daniel Kokodoko
  • Oakland, CA
Posted Oct 31 2022, 15:28

Hello, we have 2 rental properties in Salt Lake City, and both have conservatively at least $200K in equity in each. We would like to open a HELOC of $100K on each. Does anyone know an investor friendly lender that would do this? Credit score, debt to income, and gross income should not be an issue. Both properties have positive cash flow (+/- $300 per month), and have 30 year fixed 3.25% loans. The lines of credit would be used to potentially fund new deals.

Thank you

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