Updated almost 3 years ago on . Most recent reply
HELOC Question Starting out
I plan on turning my primary home into my first rental property. Should I take out a HELOC in my primary residence before switching it to a rental? Is a HELOC only allowed from your primary? Thank you!!
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John McKee
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#5 Commercial Real Estate Investing Contributor
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John McKee#5 Commercial Real Estate Investing Contributor
#5 Commercial Real Estate Investing Contributor
- Investor
- Fairfax, VA
You can get a heloc on rentals. The rate is a little higher. TD bank can offer these. You might be able to get away with getting a primary heloc in the meantime since you are living there.