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Updated almost 11 years ago,
HELOC refinance
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