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Need some advice on whether to purchase a rental property (160k) with a already established Heloc that currently has a zero balance or doing conventional financing. Conventional is at 5.25% with 2% points roughly ($3...
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BP,I applied for a HELOC around 3 years ago and got approved for 60K. My question is, after substantially paying against the note and my house going up in value over the last 3 years, am I able to re-apply to potentia...
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Attempted the BRRR and thought I was in the clear until the "repeat" step when I discovered my HELOC (which was used as my funding for construction) has now been closed for the past week. My plan was to keep the HELOC...
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HELOCs are no longer a favored option for this market.Before I give an example, it's a good idea to explain how HELOCs are calculated - because there are a lot of people on BP that do not know.HELOCs are adjustable, w...
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Good Evening - I'll cut right to the chase. I am looking at an REO property where the bank will only accept a cash deal. Have any of you had success in cross-collateralizing your properties to secure a higher HELOC or...
If HELOC funds have been used as down-payment for the purchase of a rental property, would the interest paid on HELOC be tax deductible?
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Are you finding, banks are reluctant to offer HELOCs? Meaning, am I going to have to go for a cash out refinance instead?
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Can I get a HELOC on my investment property if I used a HELOC from my personal home for the down payment on it?
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I'm planning on moving out of my primary residence in a few months. Is now the time to get a HEL or HELOC since rates are lower than if they are a rental? I don't necessarily need the equity for anything specific fo...
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I have about 150K in my HELOC and planing on using as my down payment for multiplex. My Concern is I may not be able to pay mortgage and HELOC from cash flow which is going to be very low due to price of houses in my ...