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Updated over 3 years ago,
HELOC on an investment property?
Hello Everyone,
I am looking to get a heloc on a rental property that used to be my primary residence, that i am now renting out. I have about $200,000 in equity over my mortgage. Looking to get a Heloc to purchase a new property. My local bank said 10 weeks to get approved as they have to get an appraisal on all multi families (its a duplex). Does anyone have any recommendations for companies that will do a Heloc on a rental property for a down payment?