How many HELOC outstanding?
Most lenders will allow 2 loans on a property, although sometimes, if you have your 1st and 2nd with the same lender he might give you a third. The bank where I work would allow an individual to have any kind of loan without the other owner(s), if the individual’s income and credit can support an additional lien, and if the other owner(s) signs the required docs (deed of trust or mortgage and the right of recisssion). Except in TX where the home equity laws are very unique, my bank would allow someone a mortgage, a home equity or home improvement loan and a heloc if we were the lender on all 3 loans, there was enough equity and the owner could afford it.
