All Forum Posts by: Erick Arana

Hello I would like your opinion regarding using a HELOC for downpayment for my next investment property. I would purchase a multifamily and house hack and this should help limit the risk. Most videos I have seen state HELOC for downpayment is too risky due to it being a short term tool, but I am in need of cash and this is the best way I see possible at this time. Your feedback is greatly appreciated.

 Hello @Ryan Muska thanks for the reply. I do have a mortgage on what was originally my primary home two years ago. I turned this into a rental last year when I had to go back into the office full time. My next question is that it hasn't been paid down much but just to give you a quick breakdown the house has increased $80K over the last two years and was hoping to tap into that to use to help fund my next deal. I would like to get into a multi family home so I can house hack it. Which is why if I can't get the HELOC then I would be interested in a DSCR loan to be able to get into a multifamily and help with the mortgage.

Hello everyone,

I am interested in pulling equity out of my investment property through a HELOC but some of the lenders and banks I spoke to state that no one offers HELOC's on investment properties. Does anyone know of any lenders/banks that offer investment HELOC's in California? Which leads to my second question if I cannot get the HELOC I am considering a DSCR loan, but curious if I could do a house hack with a DSCR loan?