HELOC (80-85% LTV) Single Family Home Investment

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Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
1y
Quote from @Cassidy Burns:

Hey BP,

I"m looking for an investment product for a HELOC for a Charleston, SC single family home. What lenders do you know that have 80-85% LTV HELOC on SFH investment properties?

Thanks in advance. 


I can go to 80% LTV on an investment HELOC but I do not lend in SC. But, it does exist. But, my HELOC's are full doc, not DSCR.

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y

    Might want to try a local bank. That LTV is not common on an investment property. Good luck!

    [email protected]818-269-7983
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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    1y
    Quote from @Cassidy Burns:

    Hey BP,

    I"m looking for an investment product for a HELOC for a Charleston, SC single family home. What lenders do you know that have 80-85% LTV HELOC on SFH investment properties?

    Thanks in advance. 


    I can go to 80% LTV on an investment HELOC but I do not lend in SC. But, it does exist. But, my HELOC's are full doc, not DSCR.

    Hurst Real Estate, INC4.991 Reviews
    WebsiteView Page
    2Reply
  • Patrick Roberts
    Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
    1y

    These are tough to find, especially above 70% LTV. First Capital Bank was doing these last year, but they were structured a commercial LOCs that termed out every two years and had to be rested 24 hours before resetting. I believe they were priced around 11%-12%.

    Is this for a first or second lien?

    1Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    I realize that "more is better", but can you deal with 70% or do you need to find the unicorn 80-85%?

    0Reply
  • Brandon Croucier
    Lender · Lake Havasu City, AZ · Member since 2024 · 700 posts · 285 votes
    1y

    Not many people are willing to take that level of risk on leverage, especially in a 2nd position!

    You can get up to 80% Cash out on a 1st trust deed, but typically this level of leverage comes with increasing costs & doesn't make much sense to go from 75 to 80 LTV.

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

    Hi Cassidy,

    HELOC on investment properties are rather rare but I have seen local banks typically like to stay below 70% CLTV. Might be worth a shot looking though - good luck!!

    310-848-9776
    1Reply
  • Jeffrey BlackmanPro Member
    Lender · Chicago, IL · Member since 2017 · 108 posts · 34 votes
    1y

    @Cassidy Burns, have you found the financing you were looking for? We can go up to 75% LTV in 30 states, including SC with a DSCR HELOC. Let me know if you would like to discuss.

    0Reply
  • Cassidy BurnsBusiness Member
    OP
    Investor · Alexandria, VA · Member since 2016 · 859 posts · 460 votes
    9mo

    @Jay Hurst do you have any POCs in the Charleston market that would have similar programs? 

    What markets can you lend it? 

    [email protected]540-960-1507
    0Reply
  • Cassidy BurnsBusiness Member
    OP
    Investor · Alexandria, VA · Member since 2016 · 859 posts · 460 votes
    9mo


    @Patrick Roberts thanks for the response and sorry for delayed repose on my part. I'm revisiting this, any new banks in the CHS market that have the appetite for something like this? I'm really looking for IO for 10 years and then conversion to 20-25 year AMM following.

    It would be a 2nd position. 

    [email protected]540-960-1507
    0Reply
    • Patrick Roberts
      Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
      9mo
      Quote from @Cassidy Burns:


      @Patrick Roberts thanks for the response and sorry for delayed repose on my part. I'm revisiting this, any new banks in the CHS market that have the appetite for something like this? I'm really looking for IO for 10 years and then conversion to 20-25 year AMM following.

      It would be a 2nd position. 

      Whats the loan amount, balance of the first lien, and property type/value?
      0Reply
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