Profile picture for shickson

Tapping in rental equity

Looking to borrow against rental equity. I have about 50-70k in equity in a rental property. What are my options for getting access to a portion of this? Looking to only borrow about 20k. I would rather not refinance if at all possible. Thanks
  • January 21 - Salem
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Answers (2)

Profile picture for CA Direct Lending
Leaving your current 1st mortgage in place and getting a loan on your equity is possible for only up to 65% of the value of your home as far as I know.  I've not yet found a lender who will go higher than this yet on a rental property. 
  • January 22
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Have you considered a cash-out refinance? If your finances and equity are currently in place this can be a viable option for you to pursue. This is also a common option for people in your situation seeking to free up some cash from there equity. The best thing for you to do is to speak with a lender such as myself to see if you can get started on refinancing on your home. If you have any further questions or if you would like a loan or refinance, feel free to contact me.

Good Luck!

  • January 22
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