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Updated almost 4 years ago,
where can I get a high balance HELOC?
I have a duplex I live in worth $1.1 million. First mortgage is 300,000, existing HELOC is under 50,000. I'm looking to pay off the existing HELOC by acquiring a larger HELOC of about $350,000 in order to pay off the duplex building I own next door. At some point I would sell that building giving me more cash to invest in a larger property. Any lenders have such a program. It would put me at 50%+ debt to income ratio. I am over the mark on debt to income now because I am enjoying retirement now for 4 years. :-). I self manage the 3 units