Owner-occupied duplex HELOC

[Derone Patterson]

Hello B.P. members I have a duplex that I own for about four and a half years. Brought the house for $94,000 back in 2015 I owe about 85,000 on the house now I think the house is worth about 125 to $130,000 today this is my first and only house my mortgage is $625 a month I rent out the two units and live in the basement I get 800 for the first unit 850 for the second unit. I want to move out the basement and buy another duplex. my question is will the banks allow me to take out equity from my duplex to purchase another duplex?