How to get a HELOC on an investment property?

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How to get a HELOC on an investment property?

Kevin Reinell
Rental Property Investor · Sacramento, CA · Member since 2018 · 80 posts · 31 votes

Looking to take out a HELOC on my current duplex rental, the problem is I can't find a bank to do a HELOC for a rental property. Is there any banks that do this, what are my options? Thanks!

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Clay O.
Investor · Tulsa, OK · Member since 2017 · 102 posts · 88 votes
7y

@Kevin Reinell I was looking into this today, and PenFed will do it. Check their website.

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  • Clay O.
    Investor · Tulsa, OK · Member since 2017 · 102 posts · 88 votes
    7y

    @Kevin Reinell I was looking into this today, and PenFed will do it. Check their website.

    2Reply
  • Kevin Reinell
    OP
    Rental Property Investor · Sacramento, CA · Member since 2018 · 80 posts · 31 votes
    7y

    @Clay O. Thanks I will check it out!

    0Reply
  • Ricardo Anaya
    Member since 2019 · 1 post · 0 votes
    7y

    Thanks for the lead @Clay O. I'm looking for the same and just browsed the PenFed website and indeed it seems they offer HELOC on investment properties. It doesn't specify if it's limited to single family or not, however. I also am not sure if I can join, as I'm not in the millitary. I will call tomorrow to try to answer both, unless you have any experience/insight?

    0Reply
  • Clay O.
    Investor · Tulsa, OK · Member since 2017 · 102 posts · 88 votes
    7y

    @Ricardo Anaya I am not sure on either one of those questions, but would like to know as well. 

    0Reply
  • Kevin Reinell
    OP
    Rental Property Investor · Sacramento, CA · Member since 2018 · 80 posts · 31 votes
    7y

    @Clay O. @Ricardo Anaya

    I called them today, it’s easy to join, they can get you started right over the phone, even if you are not military affiliated.

    1Reply
  • Robert T. Brown
    Rental Property Investor · Guam · Member since 2019 · 20 posts · 15 votes
    7y

    @Clay O.@Kevin Reinell 

    Thank you for the infomation. I will definetly look into this to fund my next deal.

    0Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    7y

    I have called bunches of lenders in my local area.  That is my first suggestion. 

    Secondly, these lenders advertise Investment property HELOCs:

    -Trustco
    -US Bank
    -TD Bank
    -PenFed
    -Union Bank, specializes in noo HELOC
    -Arvest Bank
    -Union Bank, Washington Stat

    -East West Bank offers HELOC on non-owner occupied investment properties up to 60% LTV with "no docs".

    -Utah: Americafirst 80% LTV on noo 65% LTV 15 year 5.74%

    -First Florida Credit Union (Jacksonville area)
    1.99% for 12 months, 5.25% variable 80% CLTV 20 yr w 10 yr draw

    -Hurst Lending and Insurance Investment property HELOC in Texas

    -Tower FCU, all states except TX, max 45 DTI, green card ok. Max of three rental properties.

    2Reply
  • Kevin Reinell
    OP
    Rental Property Investor · Sacramento, CA · Member since 2018 · 80 posts · 31 votes
    7y

    @Kerry Baird thanks for the list of options will

    Look at all of these suggestions.

    0Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    7y

    Ridge Lending also offers an All in One HELOC, first position lien, with associated checkbook. I've used them for conventional lending on several properties.

    1Reply
  • Tyler RowlandBusiness Member
    Lender · Cedar City, UT · Member since 2017 · 88 posts · 64 votes
    6y

    @Kerry Baird  Thanks for that great list of potential HELOCS on investment properties.  I did not know America First in Utah did that on investment properties.  That is extremely helpful!

    [email protected]435-592-4002
    Tyler Rowland with Intercap Lending 554 Reviews
    WebsiteView Page
    0Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    4y

    My list has grown much longer.  Please PM me for the current organizations that DO offer HELOCs on investment properties.

    0Reply
  • Himan Baroi
    New to Real Estate · Leesburg VA · Member since 2022 · 3 posts · 0 votes
    4y
    Quote from @Kerry Baird:

    I have called bunches of lenders in my local area.  That is my first suggestion. 

    Secondly, these lenders advertise Investment property HELOCs:

    -Trustco
    -US Bank
    -TD Bank
    -PenFed
    -Union Bank, specializes in noo HELOC
    -Arvest Bank
    -Union Bank, Washington Stat

    -East West Bank offers HELOC on non-owner occupied investment properties up to 60% LTV with "no docs".

    -Utah: Americafirst 80% LTV on noo 65% LTV 15 year 5.74%

    -First Florida Credit Union (Jacksonville area)
    1.99% for 12 months, 5.25% variable 80% CLTV 20 yr w 10 yr draw

    -Hurst Lending and Insurance Investment property HELOC in Texas

    -Tower FCU, all states except TX, max 45 DTI, green card ok. Max of three rental properties.

    @Kerry Baird thanks for the list of options will flow up 
    0Reply
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