Can you get a HELOC on an inherited property that you are renting out if it still has a mortgage attached to it?

More info needed, but in general, probably not.. First, Very few lenders will do a HELOC on an investment property.. Second, for the very few amount that do, they have much lower "Combined Loan to Value" *(CLTV) requirements.. Meaning if the property is worth $500K, and the lender has a max allowable CLTV of 70%, then the most that can be owed is for all loans against the property is $350K. and third, Most every lender has a guideline in regards to property seasoning,, meaning, how long have you owned it.. some require 6 months on title.. while most will want a year or more. There are provisions with conventional financing to allow for an heir to buy out another heir on an inherited property.. This loan can be done a day after the title is transferred, but this is a first position loan. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893