Let's say, I were to cash out and refinance the property for $70,000 and the property is worth $100,000 dollars; at 70% ltv. Can I HELOC the rest or a certain percentage of the equity of the property or an identical loan package. Is anyone aware of Portfolio lenders in Cleveland, Ohio that have relationships with investors. Looking to build long term relationship with a good lending institution(s).

Originally posted by @Bobbie Dancy :

Let's say, I were to cash out and refinance the property for $70,000 and the property is worth $100,000 dollars; at 70% ltv. Can I HELOC the rest or a certain percentage of the equity of the property or an identical loan package. Is anyone aware of Portfolio lenders in Cleveland, Ohio that have relationships with investors. Looking to build long term relationship with a good lending institution(s).

 If it's non owner occupied lenders are going to want you to have at least 25% into it. An owner occupied property you can refi into the max amount of leverage at around 96.5%.

@James Wise ok thank you

@Bobbie Dancy it is true that you likely won't be able to get much from your property at that LTV amount but I would suggest posting in the Ohio forum to see if any locals can provide you with some good recommendations. Good luck!

@Andrew Postell thank you