HELOC for Non-Owner Occupied quadraplex

7 Replies

Is ANYONE doing non-owner occupied HELOC's in Los Angeles or am I chasing my tail?

Talk to any Portfolio (Asset-based) Lender. (But don't expect owner-occupied rates/terms).

Please let us know how you get on. All the best...

I know it's possible with PenFed credit union to get a non-owner occupied HELOC with a reasonable rate.

I recently learned that Union Bank can do it in Northern California. They also have branches around you. Of course, you could also go online.


Unfortunately, the branch I went to does not seem to be fully staffed, and the process since then has also been lacking. My case has limited w-2 income, and I am not sure that the underwriter understands how to properly account for other income. That is not unusual, but lack of willingness to tell you exactly what is lacking - rather than just deny you - is not a good business practice. The situation may be improved by having a loan officer as your advocate - could not find such in my case up here. Appealing to someone in charge at the moment.

Just learned that Bank of the West, which in the East is called BNP, can do non owner occupied HELOCs in the SF Bay Area. They also have branches in the LA Metro. I have not contacted them yet.

I own properties in CA and MO. Bank of the West lends in both states and they offer HELOC on investment properties at 70% LTV with ~2% margin above WSJ prime rate which is currently 6.something%.

My local credit union in NorCal does. Might want to check with credit unions.

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