How Easy/Hard Is It To Get HELOCs in Las Vegas NV Now?

Question

Hi, I have approximately anywhere from $150k-200K in equity in my personal residence. Are people able to obtain HELOCs in this market to use as down payments on investment properties?

Jeff Prow · Answer

Absolutely! And can be used to purchase!

Jacoby Atako · Answer

It's still pretty doable for primary residences. If you are looking at investment property HELOCs, that can be a little tougher. Last time I checked One Nevada would still do them but they require first position.

Stephen DeThample · Answer

They set up savings account with $20 or something small.

Brian Willie · Answer

Thanks! @Stephen DeThample would I need to first have some sort of share account set up with One NV Credit Union before applying?

Stephen DeThample · Answer

Apply until someone says yes. Banks have different tolerances for risk.

I have used One NV Credit Union 3 times.

One NV Link

Good Luck!

Alex Hunt · Answer

Hi Brian,

Yes, it's quite common for investors to leverage the equity in their personal residences to obtain Home Equity Lines of Credit (HELOCs) for use as down payments on investment properties.

How much are you needing to pull? Feel free to send me a PM

Thanks,*

Logan Singleton · Answer

Hello, I'm not sure how difficult they are on the personal side, but I have had no problem granting them on investment properties.

How Easy/Hard Is It To Get HELOCs in Las Vegas NV Now?

How Easy/Hard Is It To Get HELOCs in Las Vegas NV Now?

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