Can I use HELOC on an investment property?
I'm having an issue finding someone to give me a HELOC for my investment property. Everyone I heard so far told me that does not offer HELOC for an investment property but just personal property. What should I do?
I was about to post the same question, but just saw this. I've reached out to about ten lenders so far and none had a line of credit product for non-homeowner occupied property. I've been offered a conventional refinance, a 2nd lien position mortgage, an "All In One" (you refinance the entirety of your mortgage, and then you can borrow additional funds like with a HELOC), but no line of credit.
I've heard of such HELOCs on the BP podcast, and I'm pretty sure they exist. Any pointers?