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Updated almost 3 years ago on . Most recent reply

Fred Lujan's profile image
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Fred Lujan
  • Member since Jan 8, 2022
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Fred Lujan's profile image
Fred Lujan's profile image
Fred Lujan
  • Member since Jan 8, 2022
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Fred Lujan
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Mortgage Brokers & Lenders

HELOC for COOP used as rental

Fred Lujan
Posted

Hi

I own a coop in NYC and currently renting it out.  I have estimated equity of ~50% of the appraised value and wanted to figure out if there is a way to be able to get it out.  I called a couple of banks and they don't refinance or provide lines of credits for COOPS being used as investment properties, does anyone have different experiences?  Thanks.

New York City, New York
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