Your property that is rental needs major repairs, and you’re quick on money. House equity loans are an excellent revenue stream when it's needed, but could you obtain a home equity loan on a property that is rental? Whilst it is more challenging to be eligible for a house equity loan for a leasing or investment home than it really is on the main residence, it's possible. Also finding a true house equity loan on a holiday household is more challenging than getting one on your own primary dwelling.
Non-Owner Occupied Home Equity Credit Line
A house equity loan enables you to borrow on the equity within the property. Don't assume all lender offers house equity loans on non-owner occupied properties.