Second mortgage on investment property to capitalize equity

Second mortgage on investment property to capitalize equity

Member since 2021 · 7 posts · 0 votes

For primary homes, one can do HELOC or cash out refi.

For an investment home, what is the best way to take out a second mortgage, while a first mortgage is still in place?

Are there speciality investors, or are there any suggestions?

I have a 792 credit score, if that helps, with rental property being rented for 4 + years.

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  • Omaha, NE · Member since 2020 · 611 posts · 665 votes
    5y

    You can find banks and credit unions that will offer HELOCs on investment properties. I have a HELOC on an investment property. I've even heard of banks that will offer HELOCs on multiple properties, bundled. It's a powerful tool that allows you to close, cash on properties.

    Be sure you're talking to the commercial side of the bank and not the mortgage brokers, as the mortgage brokers often aren't familiar with the commercial products you're seeking. Best of luck!

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