Looking for a HELOC lender on investment property

Birmingham, Alabama
Creative Real Estate Financing
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Looking for a HELOC lender on investment property

Deborah Lynch
Investor · Member since 2019 · 10 posts · 11 votes

Does anyone know of a lender that will do a HELOC on investment properties? I live in CA, rental is in Alabama. I've contacted my personal bank, my lender, Comerica, Fifth Third (FT will do a HELOC but not if there is a mortgage balance), TD Bank (primary residence and rental must be in the "Maine-to-Florida footprint" to get a HELOC). Waiting to hear from Union Bank. I've called credit unions in AL but you must live, work or worship there. Thanks in advance for any tips.

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Harrison George
Lender · Meridian, ID · Member since 2020 · 18 posts · 17 votes
3y

I think I have seen a few items show up on here. One person mentioned the ALL IN ONE, which is a first position HELOC that allows for your cashflow to offset your mortgage balance, reducing mortgage payment over time. All while giving you access to the available equity in your home. We offer the program, so if you or anyone have any questions about the product please let me know! Thank you,

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    4y

    Just PM'd

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
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  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    4y

    @Deborah Lynch 1) try the  lender that  has the  1st mtg   2)  call the small / mid size  banks  close to the  AL property

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  • Olivia Leija
    Rental Property Investor · Weslaco, TX · Member since 2020 · 59 posts · 17 votes
    4y

    I just learned about an All In One HELOC loan product that is available. You may want to look into it. The lender that introduced it to me works for CMG.

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  • Richard Palmer
    Investor · Birmingham, AL · Member since 2019 · 26 posts · 5 votes
    4y

    I used PenFed Credit Union for a rental in Birmingham

    0Reply
  • Otis Sanders
    Investor · West Palm Beach, FL · Member since 2017 · 94 posts · 32 votes
    3y

    @Deborah Lynch

    Did you find anyone to do the heloc? Im looking for the same thing in AL.

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  • Deborah Lynch
    Member since 2019 · 2 posts · 0 votes
    3y

    Unfortunately, no. I called about 8-10 banks. One suggested a cash-out refi (but the value of my property doesn't make this option worthwhile).  

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  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    3y

    I wonder whether either Quorum FCU or Figure would do one for you. Also that All in One HELOC, which I was introduced to through Ridge Lending. (I have used Ridge on financing, but not the AIO product…yet. FICO needs to be 720 for a rental property).

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  • Mario Cabriales
    Member since 2019 · 3 posts · 0 votes
    3y
    0Reply
  • Richard Palmer
    Investor · Birmingham, AL · Member since 2019 · 26 posts · 5 votes
    3y
    Quote from @Mario Cabriales:

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  • Richard Palmer
    Investor · Birmingham, AL · Member since 2019 · 26 posts · 5 votes
    3y

    About a year ago

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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    3y

    @Deborah Lynch @Otis Sanders   I have a potential option for you. Reach out if still needed and interested. 

    Hurst Real Estate, INC4.991 Reviews
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  • Otis Sanders
    Investor · West Palm Beach, FL · Member since 2017 · 94 posts · 32 votes
    3y
    Quote from @Jay Hurst:

    @Deborah Lynch @Otis Sanders   I have a potential option for you. Reach out if still needed and interested. 

    @Jay Hurst  Yes am still interested and in need. 

    0Reply
  • Harrison George
    Lender · Meridian, ID · Member since 2020 · 18 posts · 17 votes
    3y

    I think I have seen a few items show up on here. One person mentioned the ALL IN ONE, which is a first position HELOC that allows for your cashflow to offset your mortgage balance, reducing mortgage payment over time. All while giving you access to the available equity in your home. We offer the program, so if you or anyone have any questions about the product please let me know! Thank you,

    2Reply
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