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Updated almost 7 years ago on . Most recent reply

User Stats

280
Posts
186
Votes
Cody DeLong
  • Gorham, ME
186
Votes |
280
Posts

HELOC affect commercial mortgage?

Cody DeLong
  • Gorham, ME
Posted
Currently in the process of getting a commercial mortgage for a big multi unit property. I’ve had another solid deal come across my plate but it is all cash. I have about $100k in equity in my house. If I were to establish a HELOC right now, would that affect me getting the commercial mortgage? The commercial one is under my LLC I started but they are using my personal income and assets to evaluate as this is the first property for the LLC.

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