Equity Line for 3-unit Rental - Posted by Rich

Posted by Cosette Austin on August 07, 2003 at 18:39:31:

You can check Irwin Home Equity, GB Home Equity, Greenpoint (greenpoint will go to 95% with a 640 on a HELOC at prime rates) and Master Financial they all do lines of credit and HELOCs on Non-owner occupied properties. Good FICO scores would mean between 660-680 on those programs or better. Though, you may not get more than 90% LTV but it sounds like you don’t have an LTV problem at all. With the 50k borrowed you’ll be right at 90%.

Equity Line for 3-unit Rental - Posted by Rich

Posted by Rich on August 07, 2003 at 12:31:36:

Anyone know of a lender who will do an equity line on a 3-unit investment property…I was able to get it refinanced (from a 5 year balloon at 9.9% to 5.5% with no seasoning through Countrywide–my usual lender, however they do not do a refinance on multi-unit rental dwellings.

Property in Washington DC. Apprasial $210K, 1st 140K. Good FICO score. Need 50K.

Ideas?

Rich