I have a rental property with a good equity in it. I would like to open a HELOC, but have a hard time to find a bank which would do HELOC on a rental property.

I live in Indianapolis, Indiana.

Any advise will be appreciated!

Thank you,

Elena

I haven't found a bank that likes to do this. Would recommend just a traditional refi (rate will be better anyway).

@Elena Dubinski

What part of Indiana?

@Justin Polston

I am in Noblesville/ Indianapolis

@Nick Giulioni

Thank you.

I did refin it 2 years ago.

@elena Dubinski

first finacial offers rental Heloc loans if you live in Indiana

@Elena Dubinski look for a savings and loan or a thrift that is local to you and a bank.

I use one here in Shelbyville that does 60% of your cost basis if you have a loan against it already. If you own outright they'll do near 75 LTV.

@Harvey Levin

Thank you! I will contact them.

@Justin Polston

Thank you!

What is the name of the bank are you using?

@Elena Dubinski

You could try First Federal, Union Savings, Napoleon State