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Updated over 6 years ago on . Most recent reply

User Stats

49
Posts
20
Votes
Joshua Smith
  • Investor
  • Denver, CO
20
Votes |
49
Posts

HELOC on Multifamily Building

Joshua Smith
  • Investor
  • Denver, CO
Posted

Hi all - My brother has a 4 unit in DC which has 35% equity in it. I'd like to do a significant renovation and am exploring the viability of a HELOC to accomplish that. As an owner occupant, should my brother expect that banks will give me the typical 90% or even 95% LTV HELOC? @Aaron Smith 

Most Popular Reply

User Stats

1,677
Posts
2,132
Votes
Peter Tverdov
  • Real Estate Broker
  • New Brunswick, NJ
2,132
Votes |
1,677
Posts
Peter Tverdov
  • Real Estate Broker
  • New Brunswick, NJ
Replied

Keep calling around. I have an investor friendly bank that will do HELOCs on a limitless amount of investment property. I am applying for a SBLOC with them right now actually. Going on 2 months of waiting to close unfortunately :(

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