home equity/local banks

I have an investment property in Wisconsin that I’d like to take a home equity loan out on. I can’t take it out on where my husband and I live because we rent our primary home. I was told a local bank would be best to ask a HELOC from. What is a local bank?

Where do you have a checking/savings account? Is it local? :wink:

We live in NYC and our bank is there. The house we own is in Wisconsin and we have no checking account there. My bank here doesn’t do mortgages in Wisconsin. But I guess I could check with them.

You can probably get a heloc from most mortgage banks and it probably wouldnt make a difference if its a primnary residence or investment property as long as there is enough equity in the property.

Well you could go to a local Bank and/or Credit Union they really have some good rates and my charge you less for closing costs because they service the loan.

You could also try a local or national mortgage broker they may have some great products for HELOC for you also.