HELOC on Investment Property - Lender Recos in Austin, TX

8 Replies

I'm looking to get a HELOC on a non-owner occupied investment property. I know there are a bazillion "HELOC on Investment Property" threads on BP - that's because I just read all of them. :)

Just want to see if anyone in Austin (or within the state of Texas) has banks or credit unions that they recommend who are willing to do a HELOC on this type of property.

I have not personally used them, but have you tried Prosperity Bank or R Bank? I've heard of them being flexible and investor friendly. They can be a little note nimble since they're smaller. Good luck!

Thanks, Andrew. Looks like TX regulations are a bit more stringent on this than in other states. I guess that's why I couldn't find a "HELOC on Rental Property in Texas" thread on BP. :)

@Gary Ennis yeah kinda sucks...went through this about 6 months ago. What I did to solve the problem was refinance a rental, used the cash to pay off the 2nd mortgage on my primary residence, then took out a HELOC on my home...basically shuffling money around.

@Andrew Allen Thanks for the replies. We refinanced this particular rental property not too long ago and got a sweet interest rate, so we're not looking to re-refi. We've decided to look at taking out a HELOC on our primary, which won't result in as much capital to work with, but still gives us some flexibility to continue investing.