Investment Property Second Mortgage/Home Equity Line
Home Equity Line/Loan
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Can I apply for a second mortgage secured against an investment or rental property?
Yes, it is possible to get a traditional second mortgage or a home equity line of credit on a property that is non-owner occupied. Most lenders will require that you maintain at least 20% equity in the property (after closing on the second mortgage), and there may be a loan maximum which is lower than that of owner occupied loans. Additionally, the request for qualifying documentation from a borrower may be higher than that of owner occupied loans.
Other Home Equity Line and Second Mortgage Questions