Now, some of these answers will depend on what state that property is in, how much equity you have, and a couple of other factors...but you can certainly seek out other lenders about a Line of Credit on an investment property.  

As we embark on our journey into real estate investing, we are seeking valuable advice and guidance to establish a solid foundation in this industry

Hi BiggerPockets Community,
I’m exploring house hacking using Airbnb as part of my real estate strategy, and I’ve come across a challenge I’m hoping you can help me with. I recently learned that income earned through...

I needed $35,000 for a new heating system so the bank gave me $28,000 (80%) in a business loan for 60 months which has no prepayment penalty.

Maybe a 7 year balloon payment and maybe a 3,2,1 prepayment penalty of something. 

Generally there is consensus that DSCR Lenders can only offer a 1% prepayment penalty for up to 3 years in MI, but some lenders have recently reportedly been flaunting this rule - I would just tread carefully here in this area, generally not advisable to get potentially tangled up in a flawed legal doc with a non-sophisticated or fly by night lender

And anyone that feels they've been mislead should seek legal help.

Readers should seek professional advice.

Readers should seek professional advice.

We live in fairfax and it is forbidden and can be heavy penalties.