All Forum Posts by: David Marsh

Hello,

I have been trying to open up a HELOC on a investment property I have. The lender that has the mortgage doesn't do HELOCS on investment properties and I have reached out to a number of other lenders seeing if this is possible. So far I've only been told that I would need to do a second loan on the property and it would technically be a HELOC. Is it possible to open a HELOC for a rental?

Property is in Wisconsin and the only reason I haven't done a Cash out Refi is because the loan rate is at 3%

Hello, I am currently in the process of moving to Texas for a new job and I was looking to rent out my current house I own in another state. The issue I'm having is that no bank I've talked to is willing to do a loan without having my current living home rented out ( to cover the mortgage I have on that home ) . Now I'm  trying to figure out if I can take out equity out on that house in order to put it down on the new house  to get around needing to rent it out the house before I purchase a new house. I'm trying to avoid living in a apartment for a month from being in between houses just to make everything workout