It appears there are less banks/lenders out there doing lines of credits on a rental property vs primary home. What banks or lenders are other investors using to access some of their equity? Not looking to cash out refi a sub 3% for today’s current 6-7%.
We do them, but they aren't cheap and your LTV will be lower that a HELOC on a primary residence. Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done. They will, however, be above the rates your posting. There's a significant risk premium for investor 2nds.
We do them, but they aren't cheap and your LTV will be lower that a HELOC on a primary residence. Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done. They will, however, be above the rates your posting. There's a significant risk premium for investor 2nds.
I’m willing to accept higher interest rates on a line of credit as the overall $$ amount is significantly lower than refinancing an entire property at the above mentioned 6-7%, not to mention restarting the amortization schedule all over again. What is the avg interest rate for a line of credit?