HELOC on Investment Condo

[Tarso Teixeira]

Hello BP, 

I am looking for a a lender in Florida that will do a Home Equity Line of Credit on an investment property. I have quite a bit of equity in a condo. I would like to use a HELOC instead of a refinance and prefer a smaller bank or credit union. My challenge so far has been the ratio of owner occupied units.

Any advice as always is greatly appreciated

[Andrew Postell]

@Tarso Teixeira I would recommend to post on this in the Florida forum.  It will be very difficult to find a Line of Credit on an investment property...and even harder to find a lender who will do it on a condo.  So post in the Florida forum (if that's where the property is located) to see if any locals have a good suggestion.  Good luck!

[Tarso Teixeira]

Originally posted by @Andrew Postell:

@Tarso Teixeira I would recommend to post on this in the Florida forum.  It will be very difficult to find a Line of Credit on an investment property...and even harder to find a lender who will do it on a condo.  So post in the Florida forum (if that's where the property is located) to see if any locals have a good suggestion.  Good luck!

 Thanks for the suggestion!