Looking for a HELOC, June 2018

[George Nyquist]

Good evening BPers,

My parents are in their late 60s and early 70s, both are looking to retire in the near future. Their retirement income/expenses projections show them running a $4k/mo deficit. The idea is to secure a HELOC on their home (I'm open to other suggestions) in order to invest in income properties out of state.

I'm hoping someone can direct me to a product that meets our needs. 

The stats: 

My parents have a duplex in San Francisco. One side is their primary residence, the other side is a rental. 

At the end of 2016 we locked in a VA 30 yr fixed at 3.25%.

The current balance is $462K. No other debt, secured or unsecured.

The appraisal came in at $1.158MM.

Credit is over 820 for each parent.

Combined gross income is enough for most products available.

Please let me know if you have any suggestions, referrals, strategies etc.

Thank you!