Is anybody opening HELOC on investment properties?
2 Replies
Andres Bernal
from Orange CT
posted 4 months ago
Hey guys,
Is anyone opening HELOCS these days on investment properties or personal residence?
Eric Johnson
Lender from Chicago, IL
replied 4 months ago
Check local banks and credit unions. A lot have cut back on heloc to investor occupancy deals. You can always call though.
Lien Vuong
Real Estate Agent from Boston, MA
replied 4 months ago
HELOCs are typically for owner occupied properties only so I would shop around for a Cash Out Refi or a Line of Credit on the property.