Accessing Equity on an Investment Property
Hi BP pros!
We have a Two-family investment property in NYC with a 3.25% rate. Appraised at around $2m with a mortgage balance of $1m, so a good amount of equity doing very little for us.
- We don't have a HELOC on it.
- We run our own architecture firm and are exploring ways to access some of the equity we've built up to reinvest in another project without refinancing and losing our 3.25% rate, if that is even possible?
Thank you as always!
Anthony