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Updated over 5 years ago,
Any suggestions for a lender that does HELOCs?
I currently have two properties and would like to get a HELOC so I can pursue rehabbing. I was denied by my credit union because of my Debt to income ratio. They would not count my second job because I have been there for less than 2 years. My primary job was my only job until 8 months ago when I reduced my hours to purse a second job that gives me more flexibility in my schedule to invest in real estate. The credit union that denied me said my credit score, equity and both jobs combined is sufficient , but because I started my second job 8 months ago, I was denied. This immediately frustrated me because they gave my unemployed sister who doesn't own any property a $30,000 student loan, but denied me although I make 6 figures with both jobs and own two homes with almost $100,000 equity combined.