Financing in New York>Question Details

Out and About, Home Seller in New Jersey

is it possible to have to HELOC's?

Asked by Out and About, New Jersey Thu Sep 6, 2012

If you own two homes with two mortgages, is it possible to get a HELOC on each mortgage/home?

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Answers

5
Yes if you have enough equity on each home and have a high enough credit score and income that can cover all the payments you can get a separate HELOC on each property
0 votes Thank Flag Link Wed Sep 19, 2012
You may have heard that a home equity line of credit (HELOC) is a ... The fine print of your HELOC should state a maximum possible interest ..

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0 votes Thank Flag Link Wed Sep 19, 2012
it is not an investment property. both homes are owner occupied
0 votes Thank Flag Link Thu Sep 6, 2012
It is harder to get a HELOC on an investment home versus an owner occupied. I would need more information to give you a correct answer.
0 votes Thank Flag Link Thu Sep 6, 2012
That is a question to ask a mortgage banker. Let me know if you want me to provide you with the names and contact information of several well qualified mortgae executives in New York.

Michael Richman
Licensed Real Estate Associate Broker
Bellmarc Brokerage, Ltd.
681 Lexington Avenue
New York, NY 10022
Phone 212-688-8530 x223 Cell 917-991-2528 Fax 212-758-7495
Email mrichman@bellmarc.com
0 votes Thank Flag Link Thu Sep 6, 2012
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