HELOC Application denied. Why?

[Ernesto Hernandez]

Hey everyone, 

I own a primary near where I rent, and have about $250 in equity. Of that, I applied for $125K.

I have 3 rentals that I own free and clear in Indianapolis. I begun the mortgage process for the Refi portion of my BRRRR's on those at the same time I applied for the HELOC.

My credit is 740+

My credit card utilization is sub 10%

I have $10K in checking accounts and another $25k I could cash out of a brokerage account tomorrow if needed. 

Anything I don't know that would be resulting in me getting denied for the HELOC?

Thanks in advance. 

[Danny Randazzo]

@Ernesto Hernandez you should reach out to 10 different lenders to ask about heloc programs. I’ve found credit unions or local community banks are the best and have flexibility when approving applicants.