I have used PenFed and TD Bank for HELOCs on investment property. 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.
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.
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
Aven…not on investment properties.
Bancorp South, Texas Lines of Credit on free and clear houses
Bank of Southern California
Bank of West (BNP Paribas) 60% LTV CA, AZ
BB&T will loan on a rental portfolio
BBVA, now PNC
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
Citizens Bank -Minnesota, only in-state. Kyle Potswald
Citizens first position HELOC
CMG Financial 70% LTV
Consolidated CCU, high LTV NOO LOC, OR, WA
East West Bank, up to 60% LTV with "no docs" San Fran 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 https://firstflorida.cumortgag...
First Commonwealth
First Midwest, IL up to 90% Chicago area
First Tech Federal. Wester states. Up to 80% if FICO is over 780, no appraisal under $250k value.
First Republic - California
Fremont Bank, California
Fulton Bank
GFA Federal Credit Union 10 yr draw, 10 yr repay, MA
Granite State CU, NH 90-100%
Great Lakes Credit Union
GTE Financial, FL w 2 yrs tax history on property
Hanscom FCU, Florida
HSBC 70%, for premier clients only
Horizon, Kalamazoo Michigan
Huntington 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.
Key Bank, FLorida flexible lender, HELOCs on second
homes and rental properties. 90% LTV on primary.
Merchants Bank MN See Pavel Ushakov
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
PenFed - max 3 other properties, including primary. 80% LTV, prime + 1%, <4 properties
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.
Red Canoe Credit Union, WA OR
Regions- yes HELOC but no LOC
River Bank & Trust, AL
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)
Silvergate Bank
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."
S&T Pennsylvania
TCF Bank
TD Bank 75% line with FICO about 740. Up to 4 properties.
TIAA Direct was EverBank
Torrey Pines Bank
Troy Bank & Trust, AL
Trustco
Union Bank, specializes in noo HELOC. KCMO, NE
Union Bank, MUFG.
Upstate Bank in Rochester NY, LOC up to 80%
US Bank 80%
Vectra Bank - Colo
Veritex, Texas HELOC
WellsFargo 60% LTV Up to 5 properties.
Workers Credit Union, MA 80-100%
WSFS...up to 70% on rental
Zions Bank, Utah
The Moorhead Team5139 Reviews