How to increase LoC on a rental?

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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.

Ask around to some other banks in your area and find out. Even if you are only able to tap into 60% of the properties value then you could get a LOC for $112K and close out the LOC of 65K.

However, in our area there are some local banks that will go up to 80%. 

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