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Updated 12 months ago,

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13
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Tom Westco
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13
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does bank require primary for HELOC?

Tom Westco
Posted

Hi BP, does bank, for example PNC bank in NJ new jersey, require occupancy of primary for HELOC?

Having lived in one side of 2 unit for 10+ years, therefore more than the 1 year expected occupancy to satisfy 1st mortgage,

now wanting to rent both 2 units to tenants for long-term rental 12 month leases

does the original occupancy satifiy the HELOC if there is any type of requirement?

i'm not finding the wording of this on internet searches that i am researching

does the original occupancy satifiy the HELOC if there is any type of requirement?

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