HELOC in Puyallup / Tacoma WA

[Dan Krupa]

Hey guys. I have almost 50% equity in a property I own in Puyallup, WA. We have been flipping full time for a year now. Because we don't have a W-2 job or two years of self employment history we can't cash out refi.

Does anyone know of a local bank in Puyallup or Tacoma WA that will do a HELOC on an investment property?

Thanks

[Kevin Romines]

In certain circumstances, the lender can approve the loan with only 1 year self employment. Talk to your local lender that does Fannie Mae loans and see if they will allow this. If they don't, its most likely that, that particular lender has overlays and because of that they don't allow it? Keep talking to lenders to see if they have overlays or not?