I have two properties with equity I want to use for further investments. Rather than refinancing, there are advantages to a HELOC (low closing costs, quicker underwriting, and I only pay interest on the funds I use). However, most lenders don't want to do a HELOC on an investment property. Fulton Bank is doing one for me (with 80% LTV) for my property in Pennsylvania. But I'm looking for a lender to do the same for my property in Florida, where they don't operate. Any suggestions?

TD Bank

Space Coast FCU

US Bank

Hi Gary, 

Try Credit unions, I know Space coast does HELOC on investment properties. I am not sure though if you can open an account with them since you're out of state.

@Gary Parilis put Pen Fed on your list to call

Thanks, everyone!

Update: I've decided to refinance instead of getting a HELOC for this property. The only lender I've found for this HELOC is TD Bank, and the interest rates are higher, variable, and complicated. Since I expect to use it all, there's no real advantage to the HELOC over a simple 30-year fixed refi. It's great to know the option exists, though. Thanks everyone for your responses!

@Gary Parilis do you still need help getting your investment property Refi?

@Doran Summers I've got a lender I'm happy with. Thanks, though! 

Does any of you knows a bank that would allow HELOC on a Florida investment property that is in an LLC?

Originally posted by @Mike S. :

Does any of you knows a bank that would allow HELOC on a Florida investment property that is in an LLC?

Try TD Bank. They can do a HELOC on an investment property, but I'm not sure if they'll do it for a LLC.