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Updated almost 11 years ago,

User Stats

37
Posts
14
Votes
Levi K.
Pro Member
  • San Diego, CA
14
Votes |
37
Posts

HELOC refinance

Levi K.
Pro Member
  • San Diego, CA
Posted

Hello All,

It is great feeling to join this forum.
Here is my situation and my questions:

Situation :

1) I bought an investment property (condo-1bd/1bt) using HELOC (prime + 1.25%) out of my residential property.
2) Since when my residential property went up in value.

Questions:

1) What do I need to do to increase my HELOC amount (since my residential property went up in values?

2) I want to refinance the investment property in order to have fix rate.

I want to take 15years fix rate mortgage.

The issue is that, there are less owner occupants compare to renters/investors in this condo complex. What are my options? (I don't want to use hard money lender at this time since I just starting and don't have the knowledge).

Regards,
Levi

  • Levi K.
  • Loading replies...