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This alternative to a cash-out refinance allows a borrower to other debts, making necessary updates, etc. Not eligible for full time other mortgages.
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Home Equity Line of Credit With A Non Owner Occupied Property - What You Should Know?Cash-in on the equity in your investment, rental or second home with the help of a Home Equity Line of Credit (HELOC) with these time and money-saving loans. Owner-Occupied HELOC1, Non-Owner Occupied HELOC2. 9-month Introductory Rate, % APR1, % APR1. Credit line range, $10, to $,, $10, to $, Sound CU "non-owner occupied HELOC, capped at $K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.".