I have been looking for banks/credit unions that offer HELOCs on investment properties. I've reached out to the following:
1. Wells Fargo. Only offers 60% LTV.
2. PenFed. Only available if you own three properties or less.
I've heard that TD Bank and NavyFed are other possibilities. Has anyone worked with them? Are there any other banks that offer HELOCs on investment properties?
We have commercial line of credit on equity in properties. I'd first check with whoever is in first position on those properties. A bank can lose it all if they get wiped out because they aren't in first position, especially on an investment property.
We offer HELOCs only on primary/secondary residence. I would be interested to find Lender who offers HELOCs on investment properties. Please do share with your findings.
So @Rob Rogers Wells Fargo offers HELOCS on Investments?
I'll give them a call Monday
@Rob Rogers I went with SECU if you have more than 4 properties. They are local as well.