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Updated almost 7 years ago on . Most recent reply

User Stats

91
Posts
40
Votes
Daniel Rutledge
  • Anderson, SC
40
Votes |
91
Posts

Forcing equity to obtain a HELOC.

Daniel Rutledge
  • Anderson, SC
Posted
Hey everyone! I am wanting to take out a HELOC on my primary in order to invest but i had two questions unanswered. My home is 4 bedrooms but there is another room that is basically a bedroom without a closet. Would it be better if i added a closet to show it as a 5 br or is it even worth it going from a 4 to 5 to force equity? Also dors the br have tp be built in or is there another way to count it as a br? Also i have a room that serves as my workout room but doesnt have hvac so i believe its sq ft has never bern counted. Would it make sense to run hvac to it so i can gain the additional sq ft? The room is about 8×12. I want to maximize my appraisal to get a larger line of credit. Thanks

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