HELOC in Texas on Investment Property

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HELOC in Texas on Investment Property

Ryan Gyllenband
Real Estate Investor · Houston, TX · Member since 2015 · 2 posts · 0 votes

Has anyone had success getting a HELOC on an investment property in Texas? WF and Chase used to do it but stopped due to COVID. Looking for any banks that still do it. I've checked with every credit union and small bank I can think of. Any help or suggestions are appreciated. Thanks!

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Edward Adams
Investor · Houston, TX · Member since 2020 · 111 posts · 64 votes
4y

@Ryan Gyllenband@Mauricio Blanco@Manny Raimondo i am in Houston and i got it on my investment property, the key is they dont call it HELOC you need to ask for just line of credit. i got it from Trustmark bank. if you are in Houston let me know i will direct you to the branch that i am banking and you can mention my name. they know me :)

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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    3y
    Quote from @Eliott Elias:

    You can't take a HELOC on a investment property in Texas. What you can do is take a line of credit loan with a jumbo loan if you own min: 5 properties


     That is just the program your contact has, but there is no law or requirement to have 5 properties etc. Our program does not require 5 properties.  There is a lot of confusion on this board of what is  prohibited  compared to what their particular program requires or allows.  

    Hurst Real Estate, INC4.991 Reviews
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  • Account Closed
    Denver, CO · Member since 2018 · 133 posts · 97 votes
    3y

    @Andrew W. Have you talked with Hurst Lending? 

    https://www.biggerpockets.com/... 

    If you still need help, feel free to try BiggerPocket's Lender Match tool (currently in beta). 

    1Reply
  • Arvin Poole
    Rental Property Investor · Austin, TX · Member since 2021 · 33 posts · 21 votes
    3y

    Hello,

    I am seeking a HELOC on a duplex in Austin. I see the list of lenders but which ones are licensed in Texas? Thanks.

    0Reply
  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    3y
    Quote from @Arvin Poole:

    Hello,

    I am seeking a HELOC on a duplex in Austin. I see the list of lenders but which ones are licensed in Texas? Thanks.

     @Arvin Poole   We are licensed in Texas.

    Hurst Real Estate, INC4.991 Reviews
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  • Arvin Poole
    Rental Property Investor · Austin, TX · Member since 2021 · 33 posts · 21 votes
    3y

    Thanks Jay. I just messaged you. Hope to connect soon.

    Arvin

    0Reply
  • Lake Lutes
    Real Estate Agent · Fort Walton Beach, FL · Member since 2018 · 144 posts · 114 votes
    3y

    @Jay Hurst I shot you a message, Jay. I have a property in San Antonio with a bunch of equity I'd like to leverage. Looking forward to connecting - thanks!

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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    3y
    Quote from @Lake Lutes:

    @Jay Hurst I shot you a message, Jay. I have a property in San Antonio with a bunch of equity I'd like to leverage. Looking forward to connecting - thanks!

     @Lake Lutes    Shot you a note back. Thanks for reaching out! 

    Hurst Real Estate, INC4.991 Reviews
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  • George McQuade
    Member since 2022 · 1 post · 0 votes
    3y

    @Jay Hurst wondering the same here. Best.

    0Reply
  • Travis Osborne
    Member since 2022 · 1 post · 0 votes
    3y
    Quote from @Edward Adams:

    @Ryan Gyllenband@Mauricio Blanco@Manny Raimondo i am in Houston and i got it on my investment property, the key is they dont call it HELOC you need to ask for just line of credit. i got it from Trustmark bank. if you are in Houston let me know i will direct you to the branch that i am banking and you can mention my name. they know me :)


     Edward, 


    can you send me your Connect’s from Trustmark bank please? Thanks in advance sir. 

    0Reply
  • Gerard Scranton
    Investor · Wharton · Member since 2020 · 14 posts · 6 votes
    3y
    Quote fr@Edward Adams:

    @Ryan Gyllenband@Manny Raimondo i am in Houston and i got it on my investment property, the key is they dont call it HELOC you need to ask for just line of credit. i got it from Trustmark bank. if you are in Houston let me know i will direct you to the branch that i am banking and you can mention my name. they know me :)

    Hello @Edward Adams, I was just scrolling through looking for HELOC info and ran across this old post. I'm currently looking for "line of credit" for my primary residence. I live in

    Wharton Texas. SW of Houston on HWY 59S. Will DM you.

    Thanks

    0Reply
  • Carlos Malaver
    Member since 2021 · 1 post · 1 vote
    2y
    Quote from @Jay Hurst:

    we make these loans for qualified borrowers in Texas.

    Thanks, I need information on this as well Had a rental house that I needed to pull a HELOC on it. Thanks.

    1Reply
  • Account Closed
    Denver, CO · Member since 2018 · 133 posts · 97 votes
    2y

    @Carlos Malaver Jay Hurst (above) is a great resource on this.

    You can also search for Home Equity Loans in Lender Finder
    (^^^see toolbar above^^^)

    0Reply
  • Christine Stontz
    Member since 2021 · 1 post · 0 votes
    2y

    @Jay Hurst Hoping you are still able to provide lines of credit for investment properties. I sent you a DM

    0Reply
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