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Private Lending & Conventional Mortgage Advice

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Leanna Green
  • Holbrook, MA
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HELOC for a rental property?

Leanna Green
  • Holbrook, MA
Posted May 29 2022, 11:57

Hi i have 2 rental properties: single family rented w/ maybe $225K equity and a 2 family w/ 225K equity. Looking to take out a HELOC and not sure if this is possible for a rental? Located 20 miles south of Boston.

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Kerry Baird
Pro Member
  • Rental Property Investor
  • Melbourne, FL
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Kerry Baird
Pro Member
  • Rental Property Investor
  • Melbourne, FL
Replied May 31 2022, 05:20

Yes, I have posted a long list of lenders that I gathered from BP members as well as a few others I’ve used myself.  Search for the word “gleaned” and find the most recent post. A BP mod asked me to not spam the list. TD Bank is an option I’ve used, PenFed is another, US Bank has long offered HELOCs on investment properties. And then local (to the property) community banks and credit unions. 

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Leanna Green
  • Holbrook, MA
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Leanna Green
  • Holbrook, MA
Replied Jun 5 2022, 06:41

Thank you very much! I will find your post.

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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
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Caroline Gerardo
  • Lender
  • Laguna Niguel, CA
Replied Jun 5 2022, 09:06
Quote from @Kerry Baird:

Yes, I have posted a long list of lenders that I gathered from BP members as well as a few others I’ve used myself.  Search for the word “gleaned” and find the most recent post. A BP mod asked me to not spam the list. TD Bank is an option I’ve used, PenFed is another, US Bank has long offered HELOCs on investment properties. And then local (to the property) community banks and credit unions. 


TD now Huntington does not do investment HELOC also Pen Fed pulled out four months ago also US Bank's program is only owner occupied.

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Issac San Miguel
  • Lender
  • Austin Texas
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Issac San Miguel
  • Lender
  • Austin Texas
Replied Jun 5 2022, 11:28

I am starting to see these HELOC options dry up for investment properties.

You may have better luck with a refi

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Replied Jun 8 2022, 10:28
Quote from @Issac San Miguel:

I am starting to see these HELOC options dry up for investment properties.

You may have better luck with a refi


Agreed, getting harder and harder to BRRRR, rates on investment properties, even conventionally financed are stomach-turning.