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Updated almost 6 years ago on . Most recent reply

Andrea Chester's profile image
Andrea Chester's profile image
Andrea Chester
  • Rental Property Investor
  • from Charlotte, NC
  • Member since May 13, 2018
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Andrea Chester's profile image
Andrea Chester's profile image
Andrea Chester
  • Rental Property Investor
  • from Charlotte, NC
  • Member since May 13, 2018
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Andrea Chester
  • Rental Property Investor
  • Charlotte, NC
6
Votes |
35
Posts
Mortgage Brokers & Lenders

HELOC on an investment property ?

Andrea Chester
  • Rental Property Investor
  • Charlotte, NC
Posted

Our current investment property started as our primary residence. We have about $75k equity but didn't realize we couldn't take out a HELOC once it was rented. Does anyone know if a small banks or credit unions that will do this? The property is in Charlotte, NC. Refinancing doesn't make sense right now for this house. Looking for creative ways to get put money back out.

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Tim Sherrod's profile image
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Tim Sherrod
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Oct 6, 2017
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Tim Sherrod's profile image
Tim Sherrod's profile image
Tim Sherrod
  • Rental Property Investor
  • from Charlotte, NC
  • Member since Oct 6, 2017
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Tim Sherrod
  • Rental Property Investor
  • Charlotte, NC
34
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23
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Tim Sherrod
  • Rental Property Investor
  • Charlotte, NC
Replied

Two options that I’m aware of that give HELOCs on investment properties:

• Navy Federal Credit Union

• Wells Fargo (can’t have > 4 properties with mortgages though)

Good luck!

  • Tim Sherrod
    • 2 Votes
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