Can I get a LOC against rental propeties in Maryland?

[Ilya Z.]

Good Day!

Is it possible to get a line of credit (not a loan) against rental properties in Maryland? I have a couple of condos that are paid off and have tenants. I have a HELOC with my credit union ($0 balance right now, line to 80% LTV) and got also preapproved by them for a loan. "Platinum" credit rating (at least it was before I applied for the HELOC and the loan, hope that didn't affect it). Now I want to see if I can get another cash line. My CU only gives out loans, same with a couple of other places I pinged. Can someone recommend a lender? What sort of rate and term can I expect? My HELOC is currently at 5%, if this reference helps.

Thank you!

[Joe Bruck]

Chevron federal credit union wil do helocs up to 10 rental properties

6.25 variable, 5.25 fixed/15/yr

All fees for a revolving line of credit are absorbed by the credit union (inc 'full appraisal' if needed they will first try to establish the value using a avm)

They lend in most states 

I used these guys recently they have great service and are quick... any more questions about my experience...feel free to ask...