HELOC on Investment Property

[Jacob Greer]

Hello,

Does anyone have a good bank that will offer a HELOC on an investment property? This specific property is in TN.

Thank you!

Jacob

[John Dellinger]

Hi Jacob,

PenFED will do HELOC's and RELOC's on your primary + two investment loans. For some strange reason, they won't do more than 3 loans. They do up to %80 LTV on investment property at 4.75% Variable and 90% on your primary residence at 4.75%. They charge $100 per year per credit line unless your interest payments on the loan is more than $100 per year. I believe they don't charge closing cost. Anyone can sign up for PenFed. Hope this helpful.