Refinancing a rental

[Michael G.]

Hello,

I have a single family rental located in Connecticut that I would like to refinance to extract equity. The current mortgage is $153k and the current value by a local trusted realtor is $270k +/-.  I plan to invest the equity into another rental property.  I have a few questions:

1. Is it possible to have a HELOC type loan on a rental property? If yes, who offers?

2. What is the standard loan to value percentage on a rental?

3. From the user community: is their a lender that you would HIGHLY recommend?

4. What is the best type of loan for extracting equity given my scenario?

Thank you all!