HELOC on investment property

4 Replies

Hi guys,

Does anyone have experiencing tapping into equity on an investment property without refinancing or taking on a second mortgage? Something like a HELOC or collateralized personal loan is what I’m looking for. So far the lenders I’ve spoken to require that the home be my primary residence.

Thank you in advance

It can be done, Penfed does it so do the smaller local lenders. Stay away from big banks like Chase/WF etc as they don't really do this. Lastly you can do a cashout refi if you wanted vs a HELOC if you wanted the cash....

If you can't find anyone local, I can get you info on a OOS one if you want...

There are banks out there do them on investment properties. Not a lot, but they're out there. (I have a couple with different banks.) The LTV's are typically lower for HELOCs on investment properties too, so you need to have a fair amount of equity available to tap into. For example, Wells Fargo offers them on investment properties, but only up to 60% LTV.

Just keep calling around.  Here's a list of questions you can use when talking to the different banks: What You Need to Know When Shopping for a HELOC.

Good luck.

I’m in the middle of getting a HELOC on an investment property right now. Smaller local bank. 60% max LTV.

I had to talk to probably 10-12 different banks before I found this one. You just have to keep calling around.

Originally posted by @Matt K. :

It can be done, Penfed does it so do the smaller local lenders. Stay away from big banks like Chase/WF etc as they don't really do this. Lastly you can do a cashout refi if you wanted vs a HELOC if you wanted the cash....

If you can't find anyone local, I can get you info on a OOS one if you want...

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