HELOC on a multifamily home

[Martha Cyrus]

Hello everyone. 

Does anyone have any leads to getting HELOC from a multifamily home? We would like to get a HELOC as down-payment for an additional residential property. We have tried some local and national lenders but no leads yet.

Thank you in advance. 

[Yoochul C.]

Hi there, have you ever thought of using a cash value life insurance policy to essentially build up your own "HELOC". Typically, these loans on the policies are at 2% or 0% depending on how long you've owned the policy. Investment choices are as broad as a typical 401k. Please contact me if you have any questions on this.

[Martha Cyrus]

Great. I appreciate the info. We will be in contact.

Thank you, Yoochul. 

[Andrew Postell]

@Martha Cyrus is this property your primary home?  How much equity do you have in this property?