Burbank borrowers can now tap equity from a wider range of property types with fewer restrictions.

Did home equity and line of credit (HELOCs) just get easier in Burbank? Something big just changed in Burbank’s housing market, and it could open the door to more options for local homeowners, condo owners, and even real estate investors.

What is a HELOC? It’s kind of like a credit card that uses your home’s value. Let’s say your home is worth a lot more now than when you bought it. With a HELOC, you can borrow money using that extra value. People often use it to remodel their home, cover emergency costs, or even invest in more property.

New rules now include condos and rentals. It was usually tricky to get a HELOC unless you lived in the home and had a very specific type of mortgage. But as of this November, that’s changed.

In Burbank, HELOCs are now available not just for primary homes, but also for condos, bank statement loans, and non-owner-occupied properties, which means rental homes and investment properties as well.

Now that HELOCs are easier to get for more types of homes, it gives Burbank residents more ways to unlock that value.

HELOCs are now available for condos, bank statement loans, rentals, and investment properties.

Burbank market update. While the HELOC update is a big deal, there’s even more good news for buyers and sellers in Burbank. In October 2025, home sales were up 17% compared to the same time last year. That’s a big jump, showing that people are feeling more confident and ready to buy.

Prices are also holding strong. The average home in Burbank sold for about $1,185,000 this October, up around 4% from last year. So not only are homes selling faster, they’re also selling for more.

Interest rates, which were around 6.78% last year, have now dropped to just over 6.15%. That might not sound like a big change, but it can mean real savings when you’re buying or refinancing a home. Lower rates help more people qualify and give buyers a better shot at affording the home they want.

Let’s make your next move the best one. With HELOCs becoming more flexible and the market heating up, now’s a great time to explore your options in Burbank.

Investing in a rental property just got easier. Call/text me at 818-953-5300 or email me at brad@bradkorb.com, and I’ll walk you through everything you need to know and help you make the smartest move in today’s changing market.