HELOC on Investment Property

6 Replies

Credit unions or community banks close to the property are a great place to start.  Pull your own FICO and call around to a number of them, asking what rate and terms you can get with that FICO score on an investment property.  Many won't do them, but some will.  PenFed is a good bet, as is US Bank and TD Bank.  

@Jacob Greer I'm a banker and get this question all the time - unless they have changed after COVID TD Bank is the one to check for sure. Most community banks even now won't do them. I called a TD branch myself to verify and she told me they did them (that was a couple of years ago so policies might be slightly different).

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.

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.

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