Spring, TX · Member since 2016 · 23 posts · 2 votes
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.
Property Manager · Katy, TX · Member since 2015 · 1k+ posts · 1k+ votes
6y
Hey Charles,
I'm also seeing little cooperation from the banks for HELOCs. Have you thought of a cash-out refinance? I just did a refinance a couple months ago with no problems.