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Creative Real Estate Financing

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21
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6
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Chino Perez
  • Investor
  • Los Angeles, CA
6
Votes |
21
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HELOC On Investment Property

Chino Perez
  • Investor
  • Los Angeles, CA
Posted Jan 24 2020, 15:29

Anyone know if any lenders who will provide a HELOC on an investment property??

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3,573
Posts
2,494
Votes
Kerry Baird
Pro Member
  • Rental Property Investor
  • Melbourne, FL
2,494
Votes |
3,573
Posts
Kerry Baird
Pro Member
  • Rental Property Investor
  • Melbourne, FL
Replied Jan 24 2020, 16:23

I have gleaned from others here on BP, and a few that I’ve interviewed.

Ridge Lending All in One
Americafirst 80% LTV on noo 65% LTV 15 year 5.74%, Utah
Arvest Bank AR, OK, AL, MO
Bank of the west
BB&T will loan on a rental portfolio
BBVA Compass
California: Cal Coast Credit Union and Fremont Bank.
Citizens first position Heloc
CMG a financial 70% LTV
East West Bank, up to 60% LTV with "no docs”
Figure
First Florida Credit Union https://firstflorida.cumortgagecenter.com
Great Lakes Credit Union
HSBC 70%, for premier clients only
Huntington 75% LTV
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning.
Key Bank, FLorida flexible lender, HELOCs on second homes and rental properties. 90% LTV on primary.
PenFed - max 3 other propertie, 89% LTV
Regions- yes HELOC but no LOC
SCCU Florida 70% LTV, 6.25% interest only, not LLC
TD Bank
TIAA Direct was EverBank
Tower FCU, all states except TX, max 45 DTI, green card ok. Max of three rental properties. Automated appraisal.
Trustco
Union Bank, specializes in noo HELOC. KCMO, NE
US Bank
Vectra Bank


User Stats

657
Posts
275
Votes
Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
275
Votes |
657
Posts
Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
Replied Jan 25 2020, 06:59

@Chino Perez you can probably get lower rates on a cash our refinance. Just FYI and they are fixed.

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User Stats

21
Posts
6
Votes
Chino Perez
  • Investor
  • Los Angeles, CA
6
Votes |
21
Posts
Chino Perez
  • Investor
  • Los Angeles, CA
Replied Jan 25 2020, 10:11

@Kerry Baird

Thank you!

User Stats

1
Posts
0
Votes
Antonio S Valles
  • Raleigh
0
Votes |
1
Posts
Replied Nov 22 2020, 18:14

This is probably a noob question, but was is the noo acronym mean in your list?

Account Closed
  • New to Real Estate
  • Savannah, GA
2
Votes |
10
Posts
Account Closed
  • New to Real Estate
  • Savannah, GA
Replied Jul 6 2021, 13:27

pretty sure this was answered but it means None Owner Occupied

User Stats

53
Posts
70
Votes
Joshua Carvalho
  • Real Estate Agent
  • Plano, TX
70
Votes |
53
Posts
Joshua Carvalho
  • Real Estate Agent
  • Plano, TX
Replied Aug 10 2022, 13:49

@Kerry Baird WOW! Thank you for that list! I'll start calling all these banks to find which one I could work with!

User Stats

126
Posts
65
Votes
Alan Zee
  • Rental Property Investor
  • Dallas, TX
65
Votes |
126
Posts
Alan Zee
  • Rental Property Investor
  • Dallas, TX
Replied May 9 2023, 08:51

This list is 3 years old. BBVA now PNC does not offer LOC on investment property. Neither does BB&T bank on this list. This is as of May 2023. I called Vectra Bank and they still do. Waiting to hear from East West.

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1
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0
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Replied May 9 2023, 09:25

@Alan Zee Curious if you find any others, I'm currently looking into the same thing. 

User Stats

82
Posts
12
Votes
Lisa Mauritis
  • Hallandale Beach, FL
12
Votes |
82
Posts
Lisa Mauritis
  • Hallandale Beach, FL
Replied Jun 7 2023, 06:58

THANKS SO MUCH FOR THE INFO!