Real Estate Investor · Chicago, IL · Member since 2016 · 12 posts · 13 votes
Hello,
I'm looking for a lender that will do a second mortgage on a 4 flat investment property in Chicago. Value is around $750k and owe $400k on the 1st at 3.75%. Looking to take out $125k 2nd mortgage or HELOC.
Anyone know of any lenders that are offering 2nd's on 4 unit investment properties?
@Timothy Taylor is this your primary residence or an investment property? If it is an investment property then I would imagine most lenders want to be in the 1st position. If its a primary, you can definitely get a HELOC in the second position.