Good afternoon,

I am interested in getting some more information on how a HELOC works and what is needed to qualify.

I am looking to invest in some more SFR rentals and have considered a HELOC as a way to come up with the down payment. I have a number of rentals which have appreciated in value which I believe have enough value for me to take out some a heloc and get some cash.

I have recently purchased two more rentals in the past 3 months which are vacation homes and are not on my returns and will therefore be counted against my debt to income in any heloc I apply for. These rentals are only in my name and my wife has plenty of room in her D to I ratio to qualify. The problem is she is not currently on the loan or title of the property I want to get a heloc on.

My question is can my wife and I apply for a heloc together so I can use her income even though she is not on the first mortgage or will I have to go it alone? I do not believe I will qualify for the heloc unless my wife is with me.

Any insight or advice would be greatly appreciated.