Details and Process on HELOC

[Ed Dunbar]

Hello! New in the rental world. We are currently living in our soon-to-be STR rental. We are moving out and plan to have it rented out beginning in March/April. I am trying to get a HELOC in place just in case of an unforseen emergency expense (AC, roof, hot tub etc) and I am a little confused on the process.

I have contacted a local broker and local lender but they don't do HELOCs on rental property. Since I am currently living in the home, would it be a primary residence HELOC or should I keep moving/searching for an investment property HELOC? I have plenty of equity in the home so that should not be an issue, but I am a bit confused on where to search for investment property HELOCs. NC OBX if that matters at all.