How to increase LoC on a rental?
I own a condo currently valued at 470k, owing 170k. Applied for and secured an LoC of 65k while living there a couple years ago when the appraisal was lower. Now it's a rental and the value has increased, I'm told by the same lender I cannot increase my LoC because it's a rental. Is that accurate? I thought it was 60% LTV. Trying to tap into the equity I have for my next investment.