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Updated about 6 years ago,

User Stats

239
Posts
224
Votes
James Maradits
Pro Member
  • Real Estate Broker
  • Cleveland, OH
224
Votes |
239
Posts

Tapping into Equity without income verification

James Maradits
Pro Member
  • Real Estate Broker
  • Cleveland, OH
Posted

I'm looking to utilize a portion of my $100k + in equity in my personal residence to use for acquisitions and short term holds. I formerly had a HELOC that I used to flip properties with, but I have since sold the home it was secured to. I would like to get another HELOC, but I have recently become self employed so I don't have the income verification the big banks want to see.

I have strong credit (750+ last I checked), cash reserves, and over $100k in home equity. Does anyone have recommendations for a lender that would provide a credit line, even at a low LTV (50%?) given my current situation? Ideally without an absurd interest rate.

  • James Maradits
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