Recommendations for a lender - HELOC on an Investment Property

Recommendations for a lender - HELOC on an Investment Property

Rental Property Investor · Colorado Springs, CO · Member since 2016 · 19 posts · 7 votes

Does anyone have a recommendation for a lender to get a HELOC on a 4plex?

I have asked around through my connections and have an option but want more options.

Thanks in advance!

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Lawrence L.Pro Member
Rental Property Investor · Bronx, NY · Member since 2008 · 144 posts · 64 votes
7y

@philfalcini I'm using PenFed. Here is a list I got from another post..from @KerryBaird .I have been gathering lenders who will do HELOCs on investment properties. It appears to be one of those "impossible" things in the real estate world, that persistent people do regularly. :D

If anyone else has one to add to my list, please let me know, as my list has been growing recently.

Trustco

US Bank

TD Bank

PenFed (I used this one)

Union Bank, specializes in noo HELOC, Cory K Bente on BP

Utah: Americafirst 80% LTV on noo 65% LTV 15 year 5.74%

80% HE 15 or 10 year 6.49 fixed

First Florida Credit Union (Jacksonville area)

1.99% for 12 months, 5.25% variable 80% CLTV 20 yr w 10 yr draw

Investment property HELOC in Texas from Hurst Lending and Insurance

I don't why I can't highlight the names..good luck. 

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  • Lender · Boston, MA · Member since 2019 · 417 posts · 150 votes
    7y

    @Phil Falcini is it only HELOC you're looking for or cash out refi as well?

  • Rental Property Investor · Colorado Springs, CO · Member since 2016 · 19 posts · 7 votes
    7y

    @Dan Gamache I am open to both but for now a HELOC.

  • Lawrence L.Pro Member
    Rental Property Investor · Bronx, NY · Member since 2008 · 144 posts · 64 votes
    7y

    @philfalcini I'm using PenFed. Here is a list I got from another post..from @KerryBaird .I have been gathering lenders who will do HELOCs on investment properties. It appears to be one of those "impossible" things in the real estate world, that persistent people do regularly. :D

    If anyone else has one to add to my list, please let me know, as my list has been growing recently.

    Trustco

    US Bank

    TD Bank

    PenFed (I used this one)

    Union Bank, specializes in noo HELOC, Cory K Bente on BP

    Utah: Americafirst 80% LTV on noo 65% LTV 15 year 5.74%

    80% HE 15 or 10 year 6.49 fixed

    First Florida Credit Union (Jacksonville area)

    1.99% for 12 months, 5.25% variable 80% CLTV 20 yr w 10 yr draw

    Investment property HELOC in Texas from Hurst Lending and Insurance

    I don't why I can't highlight the names..good luck. 

  • Lender · Everett, WA · Member since 2019 · 55 posts · 25 votes
    7y

    @Lawrence L. Thanks for the shout out Mr. Lawrence. I spent the last 2 hours of my day booking up another heloc for a B.P. member.

  • Rental Property Investor · Colorado Springs, CO · Member since 2016 · 19 posts · 7 votes
    7y

    @Lawrence L. Thank you for the information!

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