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Updated over 5 years ago,
Obtaining a HeLoc on a CT rental
Hey BiggerPockets family,
I have a rental property in CT and am looking for a lender to take a HeLoc out on the property. I've called over 40 lenders in the area and still cant seem to find one which will even consider a HeLoc on a rental. They all state that they only give HeLocs on a primary residence.
Does anyone have experience getting a HeLoc on a rental in CT? Or has anyone figured out a way to demonstrate your rental as your primary residence through some sort of loophole?(I'd imagine this to be risky and time consuming)
FYI: I am out of state but do have properties I can potentially list as a primary residence in CT other than my rental.
Any information helps and I appreciate your time and consideration!
Cheers!
-Ben