Refinancing to HELOC

[Delmas Edwards]

How much does the property value in a rental investment have to be before you refinance?

[Robert Motch]

@Delmas Edwards - Call all of the small local banks in your area and speak to their commercial loan departments.

I had a property that I owned free and clear in SC and a couple months ago I called all of the local banks in the area until I found one that would give me a HELOC for 80% of the appraised market value. While the banks did not offer HELOCs on rental properties through their residential mortgage department, they offered programs through their commercial loan departments.