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Updated over 3 years ago,

User Stats

155
Posts
34
Votes
Blake King
  • Investor
  • Seattle, WA
34
Votes |
155
Posts

HELOC on an investment property?

Blake King
  • Investor
  • Seattle, WA
Posted

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?

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