HELOC on an investment property ?

HELOC on an investment property ?

Rental Property Investor · Charlotte, NC · Member since 2018 · 35 posts · 6 votes

Our current investment property started as our primary residence. We have about $75k equity but didn't realize we couldn't take out a HELOC once it was rented. Does anyone know if a small banks or credit unions that will do this? The property is in Charlotte, NC. Refinancing doesn't make sense right now for this house. Looking for creative ways to get put money back out.

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Rental Property Investor · Charlotte, NC · Member since 2017 · 23 posts · 34 votes
7y

Two options that I’m aware of that give HELOCs on investment properties:

• Navy Federal Credit Union

• Wells Fargo (can’t have > 4 properties with mortgages though)

Good luck!

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  • Rental Property Investor · Charlotte, NC · Member since 2017 · 23 posts · 34 votes
    7y

    Two options that I’m aware of that give HELOCs on investment properties:

    • Navy Federal Credit Union

    • Wells Fargo (can’t have > 4 properties with mortgages though)

    Good luck!

  • Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
    7y

    @Andrea Chester, some local banks may offer this. Pen Fed Credit Union does 80% LTV HELOCs on investment properties.

  • Fort Mill, SC · Member since 2014 · 48 posts · 13 votes
    7y

    TD Bank does. I have 3 investment properties that I took HELOC's on each.

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