Heloc on Investment Property

[Bobby Cy]

HI BP Community! I wanted to know if there are still bank that can do HELOC on rental properties in Nevada. How much is the running rate now? thanks!

[Dan Thomas]

@Bobby Cy

Just went through this. Only lender I could find to offer a heloc on an investment property was TD Bank. Many who have offered this in the recent past have stopped. Like others have mentioned, strict guidelines they follow but the deal breaker for me is that you cannot hold more than 3 total mortgages (internal lending rule).