I purchased a property for significantly under market in an urban area when people were fleeing due to covid. Values are nearly recovered and I’ve made substantial improvements.
I’d like to offset some of the costs incurred for the improvement by using a HELOC.
Is a HELOC the right product? As I understand, there’s a lot of variability in just the HELOC products.
Also, what’s the process and timeline for closing on a HELOC?