HELOC for Investment Property

5 Replies

For anyone that has a HELOC on an Investment Property. Who’s your prefer lender? Any big banks that you know provide HELOCs for investment Properties?

Hi can someone tell me if it is possible to pay heloc monthly interest with the heloc itself, as long as the line is not maxed out of course. What would this be called?

Originally posted by @Rich Hupper :

Hi can someone tell me if it is possible to pay heloc monthly interest with the heloc itself, as long as the line is not maxed out of course. What would this be called?

Hi Rich, I'm searching for a specific thread and didn't see a reply to your question. Yes you can if you have the available funds on the credit line. I guess you could see a specific guideline saying you can't write a check out of the line to pay the line but then you'd just be withdrawing the funds then paying with a personal check or bank transfer. The lender has no idea what funds are being used for what. I'm sure many people do this considering to get the best rates typically you need to withdraw from the HELOC at time of application/approval to get a better rate and not everyone will have an immediate need for the funds even if they take them. My guess is many people are paying their HELOCs with the HELOC money.

@Dane Peterson thanks dane. after speaking with several banks it sounds like some allow you to do this others don't. I was able to find one that does allow it.