Best bank for a HECL/HELOC on a rental property

5 Replies

I'm in the SLC area and looking for the best provider to provide a HELOC/HECL. Most credit unions won't touch this loan and the big banks don't offer great terms (lots of fees). Suggestions?

What kind of fees are you seeing? For a HELOC it should either be free or, at most, just the cost of an appraisal.

You can try Wells Fargo. They’ll do them on investment properties and they don’t charge any fees at all to set them up. 

Why won't credit unions touch the loan? I've looked into getting a Heloc on my primary residence and an investment property through a credit union and they offered great terms.

Good to know. I've been poking around this idea as well. From what I've found CU's don't like them because their risk of you walking on some non-owner occ debt is greater. Heard the same from a few big banks.


Fijalkowski, Joseph

FijalkowskiJ (at)

Not sure if Univest Bank is licensed in your state but they are in PA and have done these for me.