NWI Indiana multifamily section 8 friendly lender for equity LOC.
Hello all, 

I currently own an 8-unit in NWI that is  almost all section 8 tenants. The bank my loan is currently with apparently now sees that as a detriment when I discussed financing options. I’ve reno’d and bumped rents that I know would appraise for $100-150k more that I bought it for putting me ballpark $250k equity. I’m trying to find a bank/credit union that would work with me on a LOC on the equity so I figured I’d ask the collective. 

If Anyone knows of anything I’d greatly appreciate the help.
[{"id": "ihi9vnu", "text": "What\u2019s the DS coverage right now and new LTV? Message me.", "replies": [], "depth": 1}, {"id": "ihidc3o", "text": "Have you tried local banks such as Centier or Horizon?", "replies": [], "depth": 1}, {"id": "ihmaxiz", "text": "Lines behind a 1st are hard in CRE (especially this small) if the first isn't extremely low.  Section 8 just makes it even more complicated. \n\nGood luck.", "replies": [], "depth": 1}, {"id": "ihqkemu", "text": "I really like my banker Andrew Morua who was with Royal but it got acquired by People's Bank. He's done all my commercial buildings now and he's great. Very flexible like a small bank.\n\n(773) 768-4800. I don't think any banker with a brain should look at Section 8 as a detriment.", "replies": [{"id": "ihrex7o", "text": "Thanks! I will give him a call", "replies": [], "depth": 2}], "depth": 1}]