I want to do a HELOC on my Primary....but the lender says I can't

[David Vitarelli]

Hello All! I am the proud owner of 3 rental units in Philadelphia, PA. I am looking at ways to generate capital, to reinvest in real estate, from the equity I already have in my primary residence. I am not certain of the cost of my next real estate investment so, naturally, a HELOC appeals to me. The issue that I am having is that my present primary residence is a multi unit property. I live on the 2nd and 3rd floors and I rent out the 1st floor to a home health care business. Now here is where my situation gets tricky, this house is zoned 20% commercial 65% residential 10% Multi Family and 5% other. Its specific zoning classification is "C2". Most lenders that do strictly residential say that they cant help and lenders that lend commercial say that it is not a commercial loan due to the small percentage of commercial zoning. Is there any one other there that can help me accomplish a HELOC on this property in Philadelphia, PA? I would like to get any and all input on this topic!