I have a heloc related question. I have a rental property in NC that has built up some equity. I wish to get a heloc on that to use as a down payment on another home. I will not qualify with my debt to income at the moment due to my most recent purchases. I am wondering if I add my wife to the heloc and they take her income that may be a way to qualify.
Can I have her on the heloc if she is not on the first mortgage of the home?
Thanks so much.
Cant imagine why this would be an issue unless your state has an odd rule forbidding this practice.
Thanks Eric, I appreciate the insight!