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Home Equity Loans from investment property? Are there any legit (well known) Lenders out there who will give a home equity line of credit from an investment property? We have about 65% equity in a home we currently own and rent out in CO. We have superb credit (above 750). When we built it and bought it with so much cash, we had every intention of it being our final home. Circumstances change and we're now out of State. We make excellent profit off it, so selling it, not an option. But how can we free up some cash?
By shaysashark Posted on 04/01/10 Total Answers 1
Answers-
Typically lender do not do Home Equity Loans on "Non-Owner Occupied" properties. I would recommend you look at a local bank in Colorado or do a cash out refinance with a national lender. Remember, even with your stellar credit score the lender will probably not go more than 70-75% Loan to Value on Non-Owner Occupied properties. Good Luck!
Answer by : sfmca5 On Date 2010-04-01 19:55:28

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