Are there any lenders who do Helocs or 2nds on a non owner occupied investment property?
Currently I have an ltv of 48% and want access to 50k for a dp for another investment property which would put me at 70% cltv.
Thanks in advance for any assistance as I would prefer to keep my lower rate on a 20 year am rather than refi at higher rate and hit reset button on loan term.
To my knowledge, I am not aware of any helocs or 2nds that is being offered on NOO investment property. At low enough LTV, you may find a local hardmoney lender to offer you a 2nd at nose bleed rates but I believe the risk is too high for regular lending institutions to offer such loan products. Current NOO cashout loan rates are approximately 5.25%, so I would use that to calculate whether it is worth getting that vs a hardmoney loan for a 2nd.