You should be able to find one willing to. I’d expect a higher interest rate. They also won’t go as high a percentage of equity. I think owner occupied 90 or even 95% isn’t unheard of but I’d bet 70 to 75% would be the max in an investment property.
Yes, it’s less common for banks to do them on rental properties but some will. (I have a couple on different properties.)
The best thing to do is call around and find a lender in the area where you’re at that will work for you. Here some questions you can ask when calling around:
Thank you for the insight guys. That was very helpful!
A cash-out refinance may work too depending on what you want to do. I think most lenders will do this on an investment property as long as you have enough equity. Closing costs will be higher than HELOC and also you will end up with current interest rates which may or may not be a good thing.