Heloc for Investment Property
Member since 2023 · 114 posts · 36 votes
Heloc for Investment Property
Most Popular Reply
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
2y@Pandu Chimata I suggest you do not use the term HELOC for investment properties. HELOC stands for HOME equity line of credit. An investment property is not your home.
As silly as it sounds some lenders will say no to a HELOC for an investment property even if they offer a similar product with a different name. Just ask for a line of credit secured by investment property.
24 Replies
- 2yKo KashiwagiPro MemberLender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
Hi Pandu,
HELOCs are generally for primary properties, and it's rare to find a lender that will give credit on investment properties, although it could be possible. I would look into local credit unions as they may offer unique loan products. There are HELOANs available for investment properties, which are second mortgages that are close-ended (cannot withdraw multiple times).
- Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes2y
@Pandu Chimata I suggest you do not use the term HELOC for investment properties. HELOC stands for HOME equity line of credit. An investment property is not your home.
As silly as it sounds some lenders will say no to a HELOC for an investment property even if they offer a similar product with a different name. Just ask for a line of credit secured by investment property.
- Member since 2023 · 114 posts · 36 votes2yThank you for the correction of the terminology. It totally makes sense not to use HELOC for investment properties.
Quote from @Ned Carey:
@Pandu Chimata I suggest you do not use the term HELOC for investment properties. HELOC stands for HOME equity line of credit. An investment property is not your home.
As silly as it sounds some lenders will say no to a HELOC for an investment property even if they offer a similar product with a different name. Just ask for a line of credit secured by investment property.
- Member since 2023 · 114 posts · 36 votes2y
Quote from @John M.:
TD Bank does investment properties
Thank you! I will approach them - https://www.td.com/us/en/small-business
- Member since 2023 · 114 posts · 36 votes2yThank you! I am also thinking about local credit unions only. Inquiring if any of our members have experienced with a specific local credit union in LA and CA areas so that I can approach them.
Quote from @Ko Kashiwagi:
Hi Pandu,
HELOCs are generally for primary properties, and it's rare to find a lender that will give credit on investment properties, although it could be possible. I would look into local credit unions as they may offer unique loan products. There are HELOANs available for investment properties, which are second mortgages that are close-ended (cannot withdraw multiple times).
- 2yStephanie MedellinBusiness MemberMortgage Broker · CA · Member since 2014 · 1k+ posts · 644 votes
HELOCs and HELOANs are available on investment properties. The (LTV) percentage you can borrow is lower than a primary residence loan, but still available.
Stephanie Medellin, Loan Factory58 Reviews - Member since 2023 · 114 posts · 36 votes2y
Quote from @Stephanie Medellin:
HELOCs and HELOANs are available on investment properties. The (LTV) percentage you can borrow is lower than a primary residence loan, but still available.
Thank you for the information.
- Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes2y
Congratulations on the equity position. What is your strategy for maximizing its potential?
- 2yDan H.Pro MemberInvestor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
These all offered equity lines of credit on rental properties when they were added to the list. My guess is this list is 2 to 3 years old. The list will not be accurate so I would use this as a list of potential sources to investigate.
Good luck
Ridge Lending All in One, first position HELOC
AFCU does 80% LTV on NOO. Utah
Americafirst 80% LTV on noo 65% LTV Uta
Arvest Bank AR, OK, AL, M
Bancorp South, TX Lines of Credit on free and clear house
Bank of Southern California, C
Bank of West (BNP Paribas) 60% LTV CA, AZ, OR
BB&T will loan on a rental portfolio
BBVA, now PNC
BECU for OR
Bellwether Community Credit Union, NH and MA 85% to 100%, draw 10 yrs
BMO Harris, 3 HELOCs to 70% LTV
Boeing Employee Credit Union
California Coast Credit Union San Diego, CA up to 60% CLTV at a rate of Prime + 1
Change Wholesale
Chelsea Groton Bank, CT
Citizens Bank -MN
Citizens, first position HELOC
CMG Financial 70% LTV CMG Financial in Idaho will do 100% on owner occupied.
Coastal Federal Bank of NC
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" CA, WA, NV, GA, NY, TX and MA. Super easy.
Eastern CT Savings Bank, CT
Figure 80% on a rental, not in LLC
Finance of America, 95% CLTV, second home only, 680 FICO, not TX
FirstBank CO and AZ 75% LTV
First Florida Credit Union FL
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. OR and other Western states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - CA
Fremont Bank- CA
Frost Bank - TX
Fulton Bank, PA, NJ
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA, NH
Granite State CU, NH 90-100%
Great Lakes Credit Union, Chicago area IL
GTE Financial, Tampa, Sarasota area FL w 2 yrs tax history on property
Hanscom FCU, TX
HSBC 70%, for premier clients only. FL, NY, MD, CA, VA, NJ,
Horizon Bank, Kalamazoo MI
Huntington MI 75% LTV 5 yr IO product available. Someone reported 80%…need confirmation
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning. Bridge, portfolio, foreign national and other specialty loan products.
KeyBank, flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary. BLOC FL, CO, OH, UT, ID
Lafayette Ambassador Bank
Merchants Bank MN See Pavel Ushakov
Mid-Hudson Valley FCU
Mountain America CU Utah, ID, MT, NV, AZ, NM. 85% LTV, promo rate of 1.99%. Can refi an existing mortgage to a shorter term "Mini Mortgage." Currently on pause. Let me know if they start up again.
Navy Federal 80% LTV
Norway Savings Bank, Maine
Omaha Mortgage
Oregonians CU - OR
PenFed - PAUSED. Let me know if they start again. Was max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties. Pulls Equifax.
Peoples Bank of NC
PSECU up to 80%
Quorum Federal Credit Union 80% LTV, owned by LLC is OK. Very flexible lender. NY. 5 year draw, IO for 5 yrs and PI for 10 year repayment period. FICO at least 680. Not in Texas.
Quontic
Red Canoe Credit Union, WA OR
Regions
River Bank & Trust, AL
Rivermark Credit Union, OR 90% LTV
SCCU Florida 80% LTV, 2.75% first year promo, not LLC
SECU NC 65% LTV rate 2.75% Oct 2021
Signature Federal Credit Union 75% LTV (100% on primary residence), VA
Silvergate Bank, CA
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv." CT
SouthEast Bank TN
Symmetry
S&T Bank, PA
TCF Bank, FL, GA
TD Bank 75% line with FICO about 740. Up to 4 properties.
Torrey Pines Bank, see also Western Alliance Bank Corp. Commercial real estate solutions for developers, home builders.
Troy Bank & Trust, AL
Trustco Bank, FL, NY, NJ, MA, VT
Trustmark Bank, TX. Call it a LOC rather than a HELOC
Union Bank, specializes in noo HELOC. KCMO, NE., MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%. “Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”
Vectra Bank - Colo
Veritex, TX HELOC
Webster Bank, CT
WAFD Bank. Origination fee 1% or $700. Can be in an LLC, max 75% LTV. WA, OR, UT, NV, ID, NM, AZ, TX. All-in-One construction loan, too.
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
TEXAS https://www.cutx.org/home-equity-loans/helocs WAFD, Frost, Trustmark - Lender · Mesa, AZ · Member since 2016 · 61 posts · 29 votes2y
@Pandu Chimata - there's plenty of places that will offer investment HELOCs, not sure why the discussion would say otherwise, sounds like a few already offered solutions, but yes, call a lot of the local CUs and there will be a handful that offer it!
- Lender · Warwick Rhode Island · Member since 2023 · 37 posts · 20 votes2y
Quote from @Dan H.:
These all offered equity lines of credit on rental properties when they were added to the list. My guess is this list is 2 to 3 years old. The list will not be accurate so I would use this as a list of potential sources to investigate.
Good luck
Ridge Lending All in One, first position HELOC
AFCU does 80% LTV on NOO. Utah
Americafirst 80% LTV on noo 65% LTV Uta
Arvest Bank AR, OK, AL, M
Bancorp South, TX Lines of Credit on free and clear house
Bank of Southern California, C
Bank of West (BNP Paribas) 60% LTV CA, AZ, OR
BB&T will loan on a rental portfolio
BBVA, now PNC
BECU for OR
Bellwether Community Credit Union, NH and MA 85% to 100%, draw 10 yrs
BMO Harris, 3 HELOCs to 70% LTV
Boeing Employee Credit Union
California Coast Credit Union San Diego, CA up to 60% CLTV at a rate of Prime + 1
Change Wholesale
Chelsea Groton Bank, CT
Citizens Bank -MN
Citizens, first position HELOC
CMG Financial 70% LTV CMG Financial in Idaho will do 100% on owner occupied.
Coastal Federal Bank of NC
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" CA, WA, NV, GA, NY, TX and MA. Super easy.
Eastern CT Savings Bank, CT
Figure 80% on a rental, not in LLC
Finance of America, 95% CLTV, second home only, 680 FICO, not TX
FirstBank CO and AZ 75% LTV
First Florida Credit Union FL
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. OR and other Western states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - CA
Fremont Bank- CA
Frost Bank - TX
Fulton Bank, PA, NJ
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA, NH
Granite State CU, NH 90-100%
Great Lakes Credit Union, Chicago area IL
GTE Financial, Tampa, Sarasota area FL w 2 yrs tax history on property
Hanscom FCU, TX
HSBC 70%, for premier clients only. FL, NY, MD, CA, VA, NJ,
Horizon Bank, Kalamazoo MI
Huntington MI 75% LTV 5 yr IO product available. Someone reported 80%…need confirmation
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning. Bridge, portfolio, foreign national and other specialty loan products.
KeyBank, flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary. BLOC FL, CO, OH, UT, ID
Lafayette Ambassador Bank
Merchants Bank MN See Pavel Ushakov
Mid-Hudson Valley FCU
Mountain America CU Utah, ID, MT, NV, AZ, NM. 85% LTV, promo rate of 1.99%. Can refi an existing mortgage to a shorter term "Mini Mortgage." Currently on pause. Let me know if they start up again.
Navy Federal 80% LTV
Norway Savings Bank, Maine
Omaha Mortgage
Oregonians CU - OR
PenFed - PAUSED. Let me know if they start again. Was max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties. Pulls Equifax.
Peoples Bank of NC
PSECU up to 80%
Quorum Federal Credit Union 80% LTV, owned by LLC is OK. Very flexible lender. NY. 5 year draw, IO for 5 yrs and PI for 10 year repayment period. FICO at least 680. Not in Texas.
Quontic
Red Canoe Credit Union, WA OR
Regions
River Bank & Trust, AL
Rivermark Credit Union, OR 90% LTV
SCCU Florida 80% LTV, 2.75% first year promo, not LLC
SECU NC 65% LTV rate 2.75% Oct 2021
Signature Federal Credit Union 75% LTV (100% on primary residence), VA
Silvergate Bank, CA
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv." CT
SouthEast Bank TN
Symmetry
S&T Bank, PA
TCF Bank, FL, GA
TD Bank 75% line with FICO about 740. Up to 4 properties.
Torrey Pines Bank, see also Western Alliance Bank Corp. Commercial real estate solutions for developers, home builders.
Troy Bank & Trust, AL
Trustco Bank, FL, NY, NJ, MA, VT
Trustmark Bank, TX. Call it a LOC rather than a HELOC
Union Bank, specializes in noo HELOC. KCMO, NE., MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%. “Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”
Vectra Bank - Colo
Veritex, TX HELOC
Webster Bank, CT
WAFD Bank. Origination fee 1% or $700. Can be in an LLC, max 75% LTV. WA, OR, UT, NV, ID, NM, AZ, TX. All-in-One construction loan, too.
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
TEXAS https://www.cutx.org/home-equity-loans/helocs WAFD, Frost, TrustmarkWebster Bank is based in CT but has physical locations in MA & RI. They will do HELOC'S (yes, even on non owner occ they call them HELOC'S) on investment property.
Washington Trust ... MA & RI.
Also, some lenders will not do investment property but will do second/vacation homes.
- Member since 2019 · 27 posts · 6 votes2yBanks are an option, but if they cannot complete what you want (or take too long), please consider a hard money loan.
- 2yJay ThomasPro MemberReal Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
Not all credit unions give out Home Equity Lines of Credit (HELOCs) for investment properties, so check if they're down with that. When you're checking out HELOCs, compare stuff like how much interest you pay, any extra fees, and when you gotta pay it back. Most lenders won't let you borrow more than a certain chunk of your property's value, usually around 70-80%. But heads up, a HELOC is like a rollercoaster – the interest rates can go up and down, so your monthly payments might do the same. If credit unions aren't your thing, you've got other options. Regular banks have some good HELOC deals, online lenders are quick and easy, and hard money lenders are speedy but pack a punch with higher rates and shorter terms, more for quick money needs.
- Member since 2023 · 114 posts · 36 votes2y
Quote from @Jay Thomas:
Not all credit unions give out Home Equity Lines of Credit (HELOCs) for investment properties, so check if they're down with that. When you're checking out HELOCs, compare stuff like how much interest you pay, any extra fees, and when you gotta pay it back. Most lenders won't let you borrow more than a certain chunk of your property's value, usually around 70-80%. But heads up, a HELOC is like a rollercoaster – the interest rates can go up and down, so your monthly payments might do the same. If credit unions aren't your thing, you've got other options. Regular banks have some good HELOC deals, online lenders are quick and easy, and hard money lenders are speedy but pack a punch with higher rates and shorter terms, more for quick money needs.
Thank you the advise.
- Member since 2023 · 114 posts · 36 votes2y
Quote from @Farley Youman:
Banks are an option, but if they cannot complete what you want (or take too long), please consider a hard money loan.Thank you!
- Member since 2023 · 114 posts · 36 votes2y
Quote from @Jason Potrzeba:
Quote from @Dan H.:
These all offered equity lines of credit on rental properties when they were added to the list. My guess is this list is 2 to 3 years old. The list will not be accurate so I would use this as a list of potential sources to investigate.
Good luck
Ridge Lending All in One, first position HELOC
AFCU does 80% LTV on NOO. Utah
Americafirst 80% LTV on noo 65% LTV Uta
Arvest Bank AR, OK, AL, M
Bancorp South, TX Lines of Credit on free and clear house
Bank of Southern California, C
Bank of West (BNP Paribas) 60% LTV CA, AZ, OR
BB&T will loan on a rental portfolio
BBVA, now PNC
BECU for OR
Bellwether Community Credit Union, NH and MA 85% to 100%, draw 10 yrs
BMO Harris, 3 HELOCs to 70% LTV
Boeing Employee Credit Union
California Coast Credit Union San Diego, CA up to 60% CLTV at a rate of Prime + 1
Change Wholesale
Chelsea Groton Bank, CT
Citizens Bank -MN
Citizens, first position HELOC
CMG Financial 70% LTV CMG Financial in Idaho will do 100% on owner occupied.
Coastal Federal Bank of NC
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" CA, WA, NV, GA, NY, TX and MA. Super easy.
Eastern CT Savings Bank, CT
Figure 80% on a rental, not in LLC
Finance of America, 95% CLTV, second home only, 680 FICO, not TX
FirstBank CO and AZ 75% LTV
First Florida Credit Union FL
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. OR and other Western states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - CA
Fremont Bank- CA
Frost Bank - TX
Fulton Bank, PA, NJ
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA, NH
Granite State CU, NH 90-100%
Great Lakes Credit Union, Chicago area IL
GTE Financial, Tampa, Sarasota area FL w 2 yrs tax history on property
Hanscom FCU, TX
HSBC 70%, for premier clients only. FL, NY, MD, CA, VA, NJ,
Horizon Bank, Kalamazoo MI
Huntington MI 75% LTV 5 yr IO product available. Someone reported 80%…need confirmation
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning. Bridge, portfolio, foreign national and other specialty loan products.
KeyBank, flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary. BLOC FL, CO, OH, UT, ID
Lafayette Ambassador Bank
Merchants Bank MN See Pavel Ushakov
Mid-Hudson Valley FCU
Mountain America CU Utah, ID, MT, NV, AZ, NM. 85% LTV, promo rate of 1.99%. Can refi an existing mortgage to a shorter term "Mini Mortgage." Currently on pause. Let me know if they start up again.
Navy Federal 80% LTV
Norway Savings Bank, Maine
Omaha Mortgage
Oregonians CU - OR
PenFed - PAUSED. Let me know if they start again. Was max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties. Pulls Equifax.
Peoples Bank of NC
PSECU up to 80%
Quorum Federal Credit Union 80% LTV, owned by LLC is OK. Very flexible lender. NY. 5 year draw, IO for 5 yrs and PI for 10 year repayment period. FICO at least 680. Not in Texas.
Quontic
Red Canoe Credit Union, WA OR
Regions
River Bank & Trust, AL
Rivermark Credit Union, OR 90% LTV
SCCU Florida 80% LTV, 2.75% first year promo, not LLC
SECU NC 65% LTV rate 2.75% Oct 2021
Signature Federal Credit Union 75% LTV (100% on primary residence), VA
Silvergate Bank, CA
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv." CT
SouthEast Bank TN
Symmetry
S&T Bank, PA
TCF Bank, FL, GA
TD Bank 75% line with FICO about 740. Up to 4 properties.
Torrey Pines Bank, see also Western Alliance Bank Corp. Commercial real estate solutions for developers, home builders.
Troy Bank & Trust, AL
Trustco Bank, FL, NY, NJ, MA, VT
Trustmark Bank, TX. Call it a LOC rather than a HELOC
Union Bank, specializes in noo HELOC. KCMO, NE., MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%. “Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”
Vectra Bank - Colo
Veritex, TX HELOC
Webster Bank, CT
WAFD Bank. Origination fee 1% or $700. Can be in an LLC, max 75% LTV. WA, OR, UT, NV, ID, NM, AZ, TX. All-in-One construction loan, too.
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
TEXAS https://www.cutx.org/home-equity-loans/helocs WAFD, Frost, TrustmarkWebster Bank is based in CT but has physical locations in MA & RI. They will do HELOC'S (yes, even on non owner occ they call them HELOC'S) on investment property.
Washington Trust ... MA & RI.
Also, some lenders will not do investment property but will do second/vacation homes.
Thank you! I took a note of it.
- Member since 2023 · 114 posts · 36 votes2y
Quote from @Dan H.:
These all offered equity lines of credit on rental properties when they were added to the list. My guess is this list is 2 to 3 years old. The list will not be accurate so I would use this as a list of potential sources to investigate.
Good luck
Ridge Lending All in One, first position HELOC
AFCU does 80% LTV on NOO. Utah
Americafirst 80% LTV on noo 65% LTV Uta
Arvest Bank AR, OK, AL, M
Bancorp South, TX Lines of Credit on free and clear house
Bank of Southern California, C
Bank of West (BNP Paribas) 60% LTV CA, AZ, OR
BB&T will loan on a rental portfolio
BBVA, now PNC
BECU for OR
Bellwether Community Credit Union, NH and MA 85% to 100%, draw 10 yrs
BMO Harris, 3 HELOCs to 70% LTV
Boeing Employee Credit Union
California Coast Credit Union San Diego, CA up to 60% CLTV at a rate of Prime + 1
Change Wholesale
Chelsea Groton Bank, CT
Citizens Bank -MN
Citizens, first position HELOC
CMG Financial 70% LTV CMG Financial in Idaho will do 100% on owner occupied.
Coastal Federal Bank of NC
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" CA, WA, NV, GA, NY, TX and MA. Super easy.
Eastern CT Savings Bank, CT
Figure 80% on a rental, not in LLC
Finance of America, 95% CLTV, second home only, 680 FICO, not TX
FirstBank CO and AZ 75% LTV
First Florida Credit Union FL
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. OR and other Western states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - CA
Fremont Bank- CA
Frost Bank - TX
Fulton Bank, PA, NJ
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA, NH
Granite State CU, NH 90-100%
Great Lakes Credit Union, Chicago area IL
GTE Financial, Tampa, Sarasota area FL w 2 yrs tax history on property
Hanscom FCU, TX
HSBC 70%, for premier clients only. FL, NY, MD, CA, VA, NJ,
Horizon Bank, Kalamazoo MI
Huntington MI 75% LTV 5 yr IO product available. Someone reported 80%…need confirmation
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning. Bridge, portfolio, foreign national and other specialty loan products.
KeyBank, flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary. BLOC FL, CO, OH, UT, ID
Lafayette Ambassador Bank
Merchants Bank MN See Pavel Ushakov
Mid-Hudson Valley FCU
Mountain America CU Utah, ID, MT, NV, AZ, NM. 85% LTV, promo rate of 1.99%. Can refi an existing mortgage to a shorter term "Mini Mortgage." Currently on pause. Let me know if they start up again.
Navy Federal 80% LTV
Norway Savings Bank, Maine
Omaha Mortgage
Oregonians CU - OR
PenFed - PAUSED. Let me know if they start again. Was max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties. Pulls Equifax.
Peoples Bank of NC
PSECU up to 80%
Quorum Federal Credit Union 80% LTV, owned by LLC is OK. Very flexible lender. NY. 5 year draw, IO for 5 yrs and PI for 10 year repayment period. FICO at least 680. Not in Texas.
Quontic
Red Canoe Credit Union, WA OR
Regions
River Bank & Trust, AL
Rivermark Credit Union, OR 90% LTV
SCCU Florida 80% LTV, 2.75% first year promo, not LLC
SECU NC 65% LTV rate 2.75% Oct 2021
Signature Federal Credit Union 75% LTV (100% on primary residence), VA
Silvergate Bank, CA
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv." CT
SouthEast Bank TN
Symmetry
S&T Bank, PA
TCF Bank, FL, GA
TD Bank 75% line with FICO about 740. Up to 4 properties.
Torrey Pines Bank, see also Western Alliance Bank Corp. Commercial real estate solutions for developers, home builders.
Troy Bank & Trust, AL
Trustco Bank, FL, NY, NJ, MA, VT
Trustmark Bank, TX. Call it a LOC rather than a HELOC
Union Bank, specializes in noo HELOC. KCMO, NE., MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%. “Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”
Vectra Bank - Colo
Veritex, TX HELOC
Webster Bank, CT
WAFD Bank. Origination fee 1% or $700. Can be in an LLC, max 75% LTV. WA, OR, UT, NV, ID, NM, AZ, TX. All-in-One construction loan, too.
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
TEXAS https://www.cutx.org/home-equity-loans/helocs WAFD, Frost, TrustmarkWOW! Thank you for the list. This is great!
- Member since 2023 · 114 posts · 36 votes2y
Quote from @Mark Mazzucco:
@Pandu Chimata - there's plenty of places that will offer investment HELOCs, not sure why the discussion would say otherwise, sounds like a few already offered solutions, but yes, call a lot of the local CUs and there will be a handful that offer it!
Thank you !
- 2yDerek BrickleyBusiness MemberLender · Ann Arbor, MI · Member since 2021 · 668 posts · 227 votes
Hi Pandu,
Were you looking for a "DSCR" type HELOC or a conventional HELOC? Short answer is yes a HELOC is possible on an investment. Feel free to reach out if you have any specific questions though.
Gold Star Mortgage Financial Group548 Reviews - 2yJake BakerBusiness MemberFlipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses52 Reviews - Member since 2023 · 114 posts · 36 votes2yNo, I don't. If you have a contact name that I can talk, please message me. I was chatting with another local bank, but that may not work out since their qualification of loan is on my W2, not on my asset.
Quote from @Jake Baker:
- Member since 2023 · 17 posts · 10 votes2y
I was able to get a HELOC last August, which I used for my first investment property. However considering high interest rates currently, goal is to pay it off by March this year (25% remaining!!!). Will continue using it for down payments on future investment properties.
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