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Rainmaker
1,136,137
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Try another lender.  Normally it is considered as business so Debbie is correct.  One can get a revolving, margin..... Everyone wants to lend.

Jun 21, 2015 12:28 PM
Rainmaker
2,806,045
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Interesting.  If the person owns a biz, they could try for a business line of credit.  Not sure if that helps.

Jun 21, 2015 11:40 AM
Rainmaker
699,077
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Interesting.  I look forward to the loan people commenting.

Jun 21, 2015 10:16 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't know.

Mar 05, 2019 05:03 AM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I believe you can get a line of credit on renatl property.

Jun 21, 2015 09:30 PM
Rainmaker
281,768
Nancy Robinson Ranked #6 in MI
Century 21 Town and Country - Royal Oak, MI
#11 Century21 Realtor in the US, #16 in the World

Many people can get unsecured personal loans, interest rates tend to be higher than loans taken out with collateral.  There are hard money lenders, Peer to peer loans  and small business start up loans. Your client should shop around a bit more.

Jun 21, 2015 09:15 PM
Rainmaker
2,410,019
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Hella. You can get a credit line on any real estate, but not all lenders will do them on anything but your home. Some lenders will do unsecured lines as well.

Make it a great week!

Jun 21, 2015 07:45 PM
Ambassador
5,212,893
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the lender, my line is solely on my investment properties.

Jun 21, 2015 01:24 PM
Rainmaker
1,963,330
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for asking the question - I don't know the answer - but certainly credit unions have very tight guidelines

Jun 21, 2015 12:36 PM