My list has grown since this original post. For disclosure, I have used PenFed and TD Bank for HELOCs on investment property. I am not a broker, I don't gain anything from posting these lenders. BP users shared the information freely, which you can find yourself, if you search. I just collected them along the way. Please DM me or post back if you find another lender who serves you well, and I will add them to my list and pay it forward. These were largely sourced pre-CV19, so eat the fish and spit out the bones.
Try local community bank or credit union for investment properties. PenFed FCU, TD Bank and US Bank are my best recommendations.
The DTI percentage range varies by lender, and is less than what you will find for an owner occupied property, due to lender risk. While qualifying for a HELOC is dependent on your home equity and your credit score, good or excellent credit makes it easier to qualify. A good average to shoot for is 620 or higher. Plus, the better your credit score, the better your interest rate. 670 to 739 is "good" 740+ excellent.
Ridge Lending All in One, first position HELOC
AFCU does 80% LTV on NOO. Utah
Americafirst 80% LTV on noo 65% LTV Utah
Arvest Bank AR, OK, AL, MO
Bancorp South, TX Lines of Credit on free and clear houses
Bank of Southern California, CA
Bank of West (BNP Paribas) 60% LTV CA, AZ, OR
BB&T will loan on a rental portfolio
BBVA, now PNC
BECU for OR
Bellwether Community Credit Union, NH and MA 85% to 100%, draw 10 yrs
BMO Harris, 3 HELOCs to 70% LTV
Boeing Employee Credit Union
Cal Coast Credit Union, CA
Change Wholesale
Citizens Bank -MiN, only in-state. Kyle Potswald
Citizens, first position HELOC
CMG Financial 70% LTV CMG Financial in Idaho will do 100% on owner occupied.
Coastal Federal Bank of NC
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" San Fran CA area
Figure 80% on a rental, not in LLC
Finance of America, 95% CLTV, second home only, 680 FICO, not TX
FirstBank CO and AZ 75% LTV
First Florida Credit Union FL
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. OR and other Western states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - CA
Fremont Bank- CA
Frost Bank - TX
Fulton Bank, PA, NJ
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA, NH
Granite State CU, NH 90-100%
Great Lakes Credit Union, Chicago area IL
GTE Financial, Tampa, Sarasota area FL w 2 yrs tax history on property
Hanscom FCU, TX
HSBC 70%, for premier clients only. FL, NY, MD, CA, VA, NJ,
Horizon Bank, Kalamazoo MI
Huntington MI 75% LTV 5 yr IO product available. Someone reported 80%…need confirmation
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning. Bridge, portfolio, foreign national and other specialty loan products.
KeyBank, flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary. BLOC FL, CO, OH, UT, ID
Lafayette Ambassador Bank
Merchants Bank MN See Pavel Ushakov
Mid-Hudson Valley FCU
Mountain America CU Utah, ID, MT, NV, AZ, NM. 85% LTV, promo rate of 1.99%. Can refi an existing mortgage to a shorter term "Mini Mortgage."
Navy Federal 80% LTV
Norway Savings Bank, Maine
Omaha Mortgage
Oregonians CU - OR
PenFed - max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties. Pulls Equifax.
Peoples Bank of NC
PSECU up to 80%
Quorum Federal Credit Union 80% LTV, owned by LLC is OK. Very flexible lender. NY. 5 year draw, IO for 5 yrs and PI for 10 year repayment period. FICO at least 680. Not in Texas.
Quontic
Red Canoe Credit Union, WA OR
Regions
River Bank & Trust, AL
Rivermark Credit Union, OR 90% LTV
SCCU Florida 80% LTV, 2.75% first year promo, not LLC
SECU NC 65% LTV rate 2.75% Oct 2021
Signature Federal Credit Union 75% LTV (100% on primary residence), VA
Silvergate Bank, CA
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv." CT
SouthEast Bank TN
Symmetry
S&T Bank, PA
TCF Bank, FL, GA
TD Bank 75% line with FICO about 740. Up to 4 properties.
Torrey Pines Bank, see also Western Alliance Bank Corp. Commercial real estate solutions for developers, home builders.
Troy Bank & Trust, AL
Trustco Bank, FL, NY, NJ, MA, VT
Trustmark Bank, Texas. Call it a LOC rather than a HELOC
Union Bank, specializes in noo HELOC. KCMO, NE., MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%. “Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”
Vectra Bank - Colo
Veritex, Texas HELOC
WAFD Bank. Origination fee 1% or $700. Can be in an LLC, max 75% LTV. WA, OR, UT, NV, ID, NM, AZ, TX. All-in-One construction loan, too.
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
NO: Truist
TEXAS https://www.cutx.org/home-equity-loans/helocs WAFD, Frost, Trustmark
High primary, not investment, HELOC:
Spring EQ 97.5% and fast, at 11 days
Foreign national: Civic 80% LTV for cash out. 5/1, 7/1 and 10/1 interest only ARMS. 1 to 2 year bridge loan. Fund in 5. To 10 business days; can finance the rehab.
SMALL BALANCE HELOC ON PRIMARY
US Bank 15k to $750k 10 year draw. Requires high FICO 730 and LTV 70% or less
PenFed Best Credit Union $25 to $500k 10 yr draw. Up to 90% LTV.
Bank of America, low fee. $25k to $1 million, 10 year draw. HUGE line
PNC Bank best for small home improvements $10k up. 7 to 10 yr draw.
TD Bank from $8 k up. Can go from $25 to $500k…large line.
Frost Bank, in Texas only.
CALIFORNIA: Bank of Southern California, Bank of West (BNP Paribas), Cal Coast Credit Union, East West Bank, up to 60% LTV with "no docs" San Fran, First Republic, Fremont Bank, HSBC, Quorum FCU, Silvergate Bank,
UTAH
Mountain American Credit Union and America First have great rates for HELOCs
America First will do a HELOC on an investment property in Utah.
STR DSCR Mortgages (not HELOCs)
Visio
Host Financial
American Heritage
LendingOne
RCN