Updated over 4 years ago on . Most recent reply
HELOC options for a rental property in Canada
Hey there,
I've been asking around to different banks, brokers, and credit unions in BC, Canada regarding HELOCs on rental properties and not getting great responses. I am looking to secure a HELOC on a mortgage free rental that I own in Vancouver (market value $600k). My wife and I have 7 doors between us. So far I have not found a lender that will go above 65 % LTV on a HELOC, even though there are no other mortgages, loans, or liens on the property.
Anyone know any other options or strategies that I could be trying? Any banks that are particularly friendly in this area? Thanks