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Are there any banks that will do a HELOC for an investment property?

Brian Cook
Home Seller
30530

I have a house that was willed to me, paid off, and i have been using it for a rental income. Will any banks do this anymore? The LTV would only be about 45%. Thanks!

Mon Apr 27 2009, 12:43 - Home Selling in 30530 - 2 answers

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Answers (2)

Carisa Migliore
Agent
30126

You can refinance the property as long as you don't have more than 4 mortgages. They will count the rental income as passive income, usually about 75%. You must have owned the home for 6 months and they will usually limit the refinance to 75%. Let me know if you have any further questions.

Carisa Migliore
Realtor/Associate Broker
carisa.migliore@coldwellbankeratlanta.com

Mon May 4 2009, 06:18

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Brian Cook
Home Seller
30530

anyone?? the house was inherited.

Mon Apr 27 2009, 17:23

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