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Tricia Holway
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HELOC on a second property

Tricia Holway
Posted

Hi everyone, 

I'm looking for some advice as far as HELOC goes. I have a property in Washington state that has built up some equity so I called some banks about a HELOC and they are telling me that they do not lend a HELOC on nonowner-occupied property. This property is like a second home right now (I bought a house in Florida last year and made it my primary residence) I still have all of my furniture in my Washington property and I just started doing Airbnb with it but bookings are slow at the moment so I'm not really making any extra income from it. I technically could still visit that house and stay there if I wanted to. Does anyone know of a lender that is willing to do a HELOC on a second home? Thank you in advance!

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