does bank require primary for HELOC?

[Tom Westco]

Hi BP, does bank, for example PNC bank in NJ new jersey, require occupancy of primary for HELOC?

Having lived in one side of 2 unit for 10+ years, therefore more than the 1 year expected occupancy to satisfy 1st mortgage,

now wanting to rent both 2 units to tenants for long-term rental 12 month leases

does the original occupancy satifiy the HELOC if there is any type of requirement?

i'm not finding the wording of this on internet searches that i am researching

does the original occupancy satifiy the HELOC if there is any type of requirement?

[Steve Vaughan]

Quote from @Tom Westco:

Hi BP, does bank, for example PNC bank in NJ new jersey, require occupancy of primary for HELOC?

A HELOC by definition is a Home equity line of credit. Home means the place you currently live.

Non primary lines of credit don't start with an H.  They are simple ELOCs and don't have as friendly terms or rates. Establish HELOCs before moving (or quitting/changing your employment).