Who Offers HELOC on Investment Property?

Question

Hey Guys,

I'm searching for a list of lenders who provide HELOCs. Who have you used recently?

Thanks,

Matthew Kwan · Answer

Yes there are HELOCS products for both primary and investment properties. Rates are typically lower and you can have higher LTV for primary houses, however investment properties is still doable for both 1st lien or 2nd liens as well. Happy to connect!

@Carlos Valencia @Albert Bui

Carlos Valencia · Answer

Hello Alvin,

We have helped many of our investor clients with Helocs for their investments and primaries. We are also licensed in FL. Let's connect and learn more about how you want to use the Heloc to make sure we review all of your options to help you complete your next project. Typically you can go up to 75% combined Loan To value. Make sure you have enough equity to move forward and also you have to be below 50% debt to ratio income.

@Albert Bui @Matthew Kwan

Devin Peterson · Answer

HELOCs the way you want them probably structured as a DSCR do not really exist to the best of my knowledge, you can do an investment loan heloc for a super high cost, but you will be subject to a traditional conventional underwrite. I recommend cross-analyzing the blended rate option vs a whole new cash out on the 1st lien. Good luck!

Nick Belsky · Answer

I usually refer clients to SpringEQ.

HELOCs aren't cheap, even less so for investments.

https://mortgage.springeq.com/

Cheers!

Brittany Minocchi · Answer

I would check with your local banks and credit unions. Brokers CAN do them, but they have higher rates and fees, so that's something I typically refer out. Keep in mind that you'll need to qualify full doc (DTI, employment history and income will all come into play) and the property typically needs to be titled to yur personal name, not an entity.

John Morgan · Answer

You’ll eat it on fees with HELOCS on investment properties. Look at using a regular line of credit at smaller banks. I got one for up to 50k that didn’t have any fees to get it. Just a straight up 11.5% interest rate.

Zach Bosson · Answer

Hi there!

We offer the following on investment properties.

- HELOCs

- Traditional 2nd Mortgages

- DSCR 2nd Mortgages

I've helped a ton of BiggerPocket investors already who have been disappointed by what else they've seen out there! Feel free to connect directly.

Sasha Mohammed · Answer

hi @Alvin Taveras

Mortgage Broker here, i've been referring clients out to Credit Unions for their HELOCs. we have a handful of lenders that can do them, but i'm finding the juice is not worth the squeeze in the broker/ wholesale world. Clients are getting much better terms using their local credit union, and generally really appreciate being the good advice and direction. Unless someone specifically wants to work with us, they have a tough scenario in terms of qualifying, extenuating circumstances... so on and so forth.... CU and local bank is the way to go for that product specifically.

Nick Belsky · Answer

Banks and Credit unions in the 7-9% range.  Wholesale is 9-11% from what I've seen.  HELOCs are not my primary business so I don't really look into them too much.  My resources may not be the best when it comes to what the market leaders are doing...

Cheers!

Alvin Taveras · Answer

Thanks @Nick Belsky, What kind of rates have you been seeing?

Who Offers HELOC on Investment Property?

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