Do any Florida lenders do 75-80% LTV second mortgages or HELOCs?

Question

Not having luck with pulling equity out of a rental property without refinancing the whole amount. I'm looking for options to refi the equity up to 75-80% or do a heloc. All the banks I've spoken to only do helocs on primary residences.

Adam Bartomeo · Answer

I found the same thing a year ago when I was looking for a HELOC, they only do primary but that could have changed. I'm not sure why your having a problem with a refi though. Is the loan under $100k? If so a lot of lenders don't want to be bothered. I have reached out to several major banks and they were all willing to refi for 75% or less.

Do any Florida lenders do 75-80% LTV second mortgages or HELOCs?

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