Financing My First Investment Property

[Matthew Ray]

Hey all,

I bought my first home (currently my primary) last year and am now looking to purchase a Long term rental property. I have about 70k of equity in my home that I want to leverage to finance this investment property. I've been searching for HELOC lenders and have been hitting roadblocks with the low LTV's (70-80%) of property value. Anyone have any better options to access the equity in my home? or are there better ways to finance? I'll post my primary property details below.

Home value: 395k

Principal on mortgage: 325k