HELOC for investment property

Orange County, California
Private Lending & Conventional Mortgage Advice
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HELOC for investment property

David Rutledge
Irvine, CA · Member since 2016 · 243 posts · 59 votes

Hi everyone,

I am looking to tap into some equity that we have in an investment property we own in California.


It used to be our primary but is now a rental. We have a 3% rate so dont want to refi but the property has appreciated quite a bit so would like to tap into that equity to fund our next deal.

I am having some trouble finding lenders that offer helocs on investment properties.

Does anyone know of any banks and/or lenders that do helocs on investments?

Thanks

David

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Patrick Roberts
Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
1y

Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago. Lots of restrictions and tight underwriting on these. Expect them to be expensive, also. 

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  • Ryne Sweeney
    Lender · CA · Member since 2022 · 16 posts · 5 votes
    1y

    Yeah, my company does. We're starting to see more HELOCs and 2nd mortgages on investment properties nowadays.

    We deal with pretty much only real estate, investors and self-employed borrowers.

    send me a direct message and I'll get you a little bit more information.

    0Reply
  • Andrew Zavage
    Lender · Gilbert, AZ · Member since 2015 · 11 posts · 5 votes
    1y

    hey David,
    As a broker, I have several options if you're looking to only touch the equity in a second position lien on investment property.  Give me a buzz if you'd like to explore this scenario further.  
    Thanks!
    Andrew

    0Reply
  • Patrick Roberts
    Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
    1y

    Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago. Lots of restrictions and tight underwriting on these. Expect them to be expensive, also. 

    2Reply
  • David Rutledge
    OP
    Irvine, CA · Member since 2016 · 243 posts · 59 votes
    1y
    Quote from @Andrew Zavage:

    hey David,
    As a broker, I have several options if you're looking to only touch the equity in a second position lien on investment property.  Give me a buzz if you'd like to explore this scenario further.  
    Thanks!
    Andrew


     Thanks so much Andrew, I will reach out.

    1Reply
  • David Rutledge
    OP
    Irvine, CA · Member since 2016 · 243 posts · 59 votes
    1y
    Quote from @Patrick Roberts:

    Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago. Lots of restrictions and tight underwriting on these. Expect them to be expensive, also. 


     Thanks Patrick.

    1Reply
  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 503 votes
    1y

    There are HELOCs for investment properties. There are also 2nd mortgage options as well. 

    [email protected]818-770-0340
    Bright Skyline518 Reviews
    WebsiteView Page
    0Reply
  • Andrew Zavage
    Lender · Gilbert, AZ · Member since 2015 · 11 posts · 5 votes
    1y
    Quote from @Patrick Roberts:

    Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago. Lots of restrictions and tight underwriting on these. Expect them to be expensive, also. 


    A&D has a 2nd position DSCR but not revolving - installment only.
    AO has a HELOC but self-employment documented for 2 years is required. A few tidbits for anyone else reading this.

    0Reply
  • Jake AndronicoBusiness Member
    Realtor · Reno, NV · Member since 2019 · 1k+ posts · 938 votes
    1y

    @David Rutledge

    PM'ed you a contact that does these! 

    415-233-1796
    0Reply
  • Jesse Holsapple
    Lender · Fountain, CO · Member since 2022 · 124 posts · 32 votes
    1y

    Pref Equity would be an option but it takes reviewing some deeper information. happy to connect.

    0Reply
  • Ko KashiwagiPro Member
    Lender · Los Angeles, CA · Member since 2022 · 967 posts · 445 votes
    1y

    Both HELOC and HELOAN options should be available! Most of these program qualifies borrowers with income and very few DSCR.

    310-848-9776
    1Reply
  • Cedric Ferrell
    Member since 2018 · 15 posts · 1 vote
    1y

    @David Rutledge

    Great move holding onto that 3% rate while leveraging your equity for another deal! HELOCs on investment properties can be tricky since many traditional banks don't offer them, but some lenders, and some local credit unions might be worth checking out. If a HELOC isn't an option, alternatives like a home equity loan, business line of credit, or a DSCR loan could work depending on your situation. I'd recommend reaching out to mortgage brokers who specialize in investor loans—they often have access to niche lenders.

    All the best!

    0Reply
  • Brian ValdiviaBusiness Member
    Investor · Kingsville, MD · Member since 2017 · 102 posts · 20 votes
    1y

    Hey David!

    Our team can get this done! Shoot me an email or a call. Check our Google Reviews, more than 100 Five Star reviews.


    Talk soon!

    Beltway Lending5183 Reviews
    WebsiteView Page
    1Reply
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