How to get a HELOC on an investment property?

Question

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!

Kerry Baird · Answer

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.

Clay O. · Answer

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

Kerry Baird · Answer

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.

Kevin Reinell · Answer

@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.

Kerry Baird · Answer

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

Tyler Rowland · Answer

@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!

Kevin Reinell · Answer

@Kerry Baird thanks for the list of options will

Look at all of these suggestions.

Robert T. Brown · Answer

@Clay O.@Kevin Reinell

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

Clay O. · Answer

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

How to get a HELOC on an investment property?

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