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Updated almost 6 years ago on . Most recent reply
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Can I get a HELOC on a rental property?
I was talking to a friend who also invests in rental properties, and he encouraged me to get a HELOC on my existing house. He mentioned that I could roll my mortgage balance into a HELOC. I called up a regional bank to inquire, but was told they can't do a HELOC on rental property, only a primary residence or summer home.
Is that true for all banks or is it dependent on the bank?
Thanks in advance.