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Updated about 1 year ago on . Most recent reply

William D.'s profile image
William D.'s profile image
William D.
  • from Staten Island, New York
  • Member since Aug 9, 2017
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William D.'s profile image
William D.'s profile image
William D.
  • from Staten Island, New York
  • Member since Aug 9, 2017
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William D.
  • Staten Island, NY
15
Votes |
109
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General Real Estate Investing

Cash-out refi or heloc after purchase of $850000K multi family

William D.
  • Staten Island, NY
Posted

Currently in contract. I'm putting 25% down on an $850K multi family. When all is said and done will I be able to take a heloc out on the property? Considering I will own at least 25% of the property. I want to make sure I'm not missing anything.

25% of $850K is $212K

75 % LTV of $212K is $159K

Charlotte, North Carolina
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Jason Allen's profile image
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Jason Allen
  • Attorney
  • from Columbus, OH
  • Member since Aug 3, 2023
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Jason Allen's profile image
Jason Allen's profile image
Jason Allen
  • Attorney
  • from Columbus, OH
  • Member since Aug 3, 2023
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Jason Allen
  • Attorney
  • Columbus, OH
144
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193
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Jason Allen
  • Attorney
  • Columbus, OH
Replied

Rocket mortgage allows me to pull a HELOC up to the full appraised value of mine.

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