HELOC on Owner Finance??

[Trey Knight]

We have a property that is owner financed. We own the house, original owner owns the note. 3.5% on 15 yr no MIP. I would like to keep the existing loan and not refi. I've reached out to a couple of banks about doing a HELOC and they don't seem to think its possible on an Owner finance. Anyone have any experience here or can recommend a lender?

[John Underwood]

You own the house, the old owner is just the bank. If your attorney created the note correctly it shouldn't be an issue as long as you have enough equity. I'd ask the bank why or ask another bank.