Hi BP,

I have a pretty unique situation. I have a relative who purchased a primary home in cash and also put my name on the title/deed. She does not have the income/DTI to leverage a HELOC on the property herself, but gave me permission to seek a way to leverage the property for financing myself.

Are there any avenues where I can leverage this home to obtain capital?

You have ownership so can get HELOC on your name.

Hi Harjeet, 

I had spoken to a lender and was told that since it's not my primary residence, it would not qualify for HELOC.

Perhaps I need to speak with a few different lenders.

Originally posted by @Harjeet Bhatti :

You have ownership so can get HELOC on your name.

@Khang Nguyen there are few lenders who can do this heloc as rental property. You can cash out as an investment or add your relative name on heloc if allowed. I understand relative don't have income but that's primary residence for relative.