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Updated about 3 years ago,
Getting equity out of primary residence
Since I'm self-employed, I've decided to obtain commercial debt for an upcoming rental condo purchase (long term hold). I was hoping to utilize the equity in my primary residence to help with the down payment, but I'm finding that my taxable income is too low/revolving debt too high.
Does anyone have recommendations for lenders that will give HELOC's to self-employed owners in my situation? Alternatively, any other suggestions on how to get the equity out of my primary residence?
Thanks!
Scott