Are there any lenders that will do a HELOC on rental property

8 Replies

I have a rental that has about 100k in equity. I would like to get a HELOC on it so I can finance some other deals. Unfortunately, I cannot find a lender, national or local (GA), that will do a HELOC on a rental. Does anyone know if this is possible and/or know a lender that will do it?

Thanks, 

@Caleb Heimsoth try your local credit union. I just got a HELOC on one of my rentals, they gave 80% of the market value minus what’s owed. I’d be shocked if you can’t find a CU to do it. If you can’t find on PM and I’ll give you a referral of a national CU that I’m sure lends in your market. Good luck.

it is my experience that you will not find this...that it's uniform, national , not state to state decision.... I even assumed you had to live in the property for a year before you qualify for Heloc,, but I have found that you can apply 1 month early if you sign something saying you will make subject property your owner occupied within a month,..(how long you have to live in it before you make it a rental again to avoid penalty, im not clear)

but its a "home" loc, not an "investment, tenant rental" loc..

There are banks that will do a cash-out refinance your investment property. Most of these are commercial banks. Also, make sure you are asking for the right product at your local bank. Asking for a heloc on an investment property will confuse some that's not familiar with real estate investing.