HELOC on secondary home?

Question

Can you get HELOC on your secondary home? if not, how else can you tap the equity in your second home without cashout refinance?

Justin Phillips · Answer

@Jackson Hartman Hi Jackson, I'll shoot you a PM!

Justin Phillips · Answer

@Jeff Cliff @Kao Nou Xiong You can definitely put Helocs on investment/2nd homes. I help clients with that all the time!

Susan Maneck · Answer

Wells Fargo used to offer HELOCs on Rental Properties but right now they have a moratorium on them.

Jackson Hartman · Answer

Looking for help on finding a bank to give us a HELOC on a secondary home located in California. Would love any help or leads. TIA

Kao Nou Xiong · Answer

Thank you @Justin Phillips. Please check your PM.

Kao Nou Xiong · Answer

Hi Jeff,

Were you ever able to perform a HELOC on the secondary home? Please do share. Much appreciated.

Thank you.

Kurt Newton · Answer

@Jeff Cliff I believe you should be able to, that’s what the BRRRR method thrives on is doingbit on each property you buy!

I haven’t done anything yet, but what I’ve been informed is that a cash out refi is usually cheaper than a HELOC if you can get that done!