Hi, I'm looking for a lending institution that will do a HELOC or home-equity loan on a rental property (the property is 100% paid off currently).
I tried BBVA, PNC, and USBank and they only do equity loans on owner-occupied properties. Thanks for any leads.
@Andrew R. PenFed Credit Union
Been making a lot of calls lately, so far have found PenRed, TD Bank will do a HELOC on rental property but the rate and term is not great (6+% and 12 year term). Any other leads out there? Looking in Alabama, thanks!