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Updated over 7 years ago,
HELOC on Primary Residence vs. Investment
Banks have different terms for their HELOC lending for primary residence versus investment, giving more borrowing power and a lower interest rate on the primary residence. Let's say I get a HELOC on my primary residence. Then, a couple months later, I move out making the home an investment property. I already have the HELOC in place, but is the bank going to find out and change their terms now that the property is a rental?