Heloc on rental property

4 Replies

I have more than 10 loans and want to pull equity out. Anyone know a good lender can do line of credit on rental properties with 75% of house value ? I am in Ohio. Thanks. Andy

I have two HELOCs on rental properties, so it is possible to get them. The bigger issue you're going to run into Andy is most lenders have a limit on how many mortgages you can have, and they typically offer lower LTV's when doing HELOCs on rental properties. However, not all lenders have limits on the number of mortgages. (One of the lenders I have a HELOC through doesn't, but they don't lend in your state.)

You'll just have to call around until you find a lender that works for you.  Here's some questions you can ask and things to consider when calling around: What You Need to Know When Shopping for a HELOC

Hope it helps and good luck.

Thanks for all replying. I found Huntington can do one and only one Heloc for rental. 

Looking for other banks. I believe those banks are there.