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Mortgage or HELOC on Investment Co-op

Started by technorat
almost 13 years ago
Posts: 63
Member since: Aug 2009
Discussion about
I am looking to finance some education costs by pulling equity out of a co-op I use as an investment property (currently rented) that is 100% equity owned at the moment. I know that Wells Fargo does not do HELOCs on co-ops and does not do mortgages on investment co-ops. I was looking for some leads for banks that could accomodate me. I saw on a thread that Chase (as of 6 months ago) still did HELOCs, but looking for other avenues as well to price shop. Thank you.
Response by Adam_Dahill
almost 13 years ago
Posts: 8
Member since: Aug 2011

I have a few options for non-owner occupied coops. There aren't many banks that will do these loans and ones that I have will only do an ARM with the longest fixed period being 7yrs.

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