HELOC in California on Fourplex

[Carlos Ceron]

Hi All,

Happy 2020! I've been following BP for some time now, we purchased a fourplex property in 2015 and although we waited longer than expected to continue to expand our portfolio, my wife and I are looking to grow this year. We are contemplating several options now that we have some equity on the property, the first is using a HELOC for a down payment on a duplex but we are running into issues with the bank wanting to give us 60% LTV at most even though we are using one of the units as our primary residence.

We are wondering if anybody else has had better luck with the banks in California?