How to get a HELOC on an investment property?

10 Replies

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!

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?

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.

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.

@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!