Does anyone know of a bank in the Pittsburgh Metro that has done a LOC on an investment property? I own a triplex free and clear, and I would like to weight my options to set up a line against it.
Any reason why you wouldn't consiser a Pittsburgh Real Estate minded bank for a Refinance? - Jason Cohen Pittsburgh
Well, I don't need a refinance, I don't owe any money on it.
I'd like to be able to capitalize on this fact, but I'm getting a lot of feedback along the lines of 'well, we just don't deal with investment property', which I suppose means that the bank isn't REI-geared or friendly.
I'm in Pittsburgh. I did some checking with local banks last year on doing a cash-out refi with less than 6 months seasoning. In the process, I found some banks that will do HELOCs on investment properties, some local some not:
Fifth Third Bank
Also Dollar Bank and S&T Bank were very willing to do a refi on investment property and saavy on it, so I'd be surprised if they wouldn't do a HELOC on it.
Is there a Northwest Savings Bank in Pittsburgh (I know they're north of Pittsburgh). They have proven themselves to be very REI friendly in my experience with them.
Did you end up finding a lender who will do a HELOC in an investment property? I'll looking for one myself, right now. Thanks.
I was unable to find that exact thing, but after speaking to some other people, it looks like I may be able to get close to what I want with a refinance. Message me, and I'll go into more detail about what I was told to do.
Will do, thanks!
@Jeremy Pace can you let me know as well? I'm looking to find a bank that will do a cash out refi on an investment property (titled in an entity which is sometime the rub). The 2 local portfolio loan banks I typically use to finance (haven't tried a refi with them until now) for some reason don't seem too keen on doing it. Much appreciated.
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