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Updated almost 10 years ago on . Most recent reply

Jeff S.'s profile image
Jeff S.'s profile image
Jeff S.
  • from Chicago, Illinois
  • Member since Aug 30, 2014
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Jeff S.'s profile image
Jeff S.'s profile image
Jeff S.
  • from Chicago, Illinois
  • Member since Aug 30, 2014
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Jeff S.
  • Chicago, IL
7
Votes |
37
Posts
Creative Real Estate Financing

Home Equity Line of Credit question

Jeff S.
  • Chicago, IL
Posted

My bank is telling me that they can only give me a home equity line of credit on the house I currently live in, even though I have a lot of equity in a couple other rental properties that I own.  What's a good way to tap the equity I have in multiple properties for either one large line of credit, or multiple lines of credit?

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Peter MacKercher's profile image
Peter MacKercher's profile image
Peter MacKercher
  • Residential Real Estate Broker
  • from Saint Louis, MO
  • Member since Mar 13, 2014
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Peter MacKercher's profile image
Peter MacKercher's profile image
Peter MacKercher
  • Residential Real Estate Broker
  • from Saint Louis, MO
  • Member since Mar 13, 2014
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Peter MacKercher
  • Residential Real Estate Broker
  • Saint Louis, MO
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Peter MacKercher
  • Residential Real Estate Broker
  • Saint Louis, MO
Replied

Refinance 75% LTV cash out is the only way i can get money out of property that is not my primary residence. 

@Jeff S. 

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