HELOC and LTV on investment property

[Vera B.]

Hello all!

I cant seem to find any lenders that offer HELOCs on investment properties. Can anyone suggest any?

I did speak to Wells Fargo and they only lend 60% LTV. Not ideal. Any help would be appreciated.

[Chris Mason]

Originally posted by @Vera B.:

Hello all!

I cant seem to find any lenders that offer HELOCs on investment properties. Can anyone suggest any?

I did speak to Wells Fargo and they only lend 60% LTV. Not ideal. Any help would be appreciated.

This is just a matter of dialing for dollars. The best n/o/o HELOC is almost certainly going to come from a regional bank. Your normal 1st position lender might have a referral or two for you... when it's in the Bay Area, I generally do. It's no skin off my back since I don't offer HELOCs, meaning they aren't my competition. HELOC lenders are more like my partner, because *poof* now my client has a down payment again. So, action items:

- Call your normal lender for a referral.

- Start dialing for dollars, regional banks and credit unions.