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Updated almost 5 years ago on . Most recent reply
Looking for a HELOC on an investment property in Texas
I have an investment property in Texas (worth $200k, existing mortgage of $100k at 4.25% interest) and I want to either refinance or get a 2nd morgtage on. The banks have not been helpful, most of them straight up refusing to do a HELOC. I have a good tenant and don't want to sell, but I do want to tap the equity so I can invest it in another business.
How can I pull some equity out of the property?