Does anyone know a bank in North Carolina that still does HELOC

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Does anyone know a bank in North Carolina that still does HELOC

Doug Sowder
Hope Mills, NC · Member since 2014 · 6 posts · 3 votes

Hi,

I was wondering if anyone can point me in the right direction for a bank or lender that still does a HELOC on investment properties in North Carolina. I used to use BB&T exclusively, but was told they no longer do HELOC's on investment properties. Unfortunately, I just paid cash for a property and need the HELOC to get it rent ready.... Things happen quick in the lending arena nowadays...

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  • Wes Brand
    Investor · San Francisco, CA · Member since 2016 · 314 posts · 153 votes
    10y

    I know Wells Fargo will do LOCs on investment properties. 60% LTV. Max 4 liens against properties in your name.

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  • Travis Beal
    Sanford, NC · Member since 2015 · 38 posts · 13 votes
    10y

    I'm interested in this as well. 

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  • Account Closed
    Investor · Wilmington, NC · Member since 2016 · 80 posts · 43 votes
    10y

    In addition to Wells Fargo, PenFed & TD Bank offer ELOCs on investment properties.

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  • Doug Sowder
    OP
    Hope Mills, NC · Member since 2014 · 6 posts · 3 votes
    10y

    Thanks Joe! I haven't tried PenFed yet, I contacted TD Bank this morning.... I have found that there are a lot of banks that will do Eloc's, but not if the house is titled under an LLC. I am also running into a lot of banks have a 75k or 100k minimum draw...I'll keep looking and update my post when I find someone....

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