Portfolio Equity Lines of Credit

Portfolio Equity Lines of Credit

Nashville, TN · Member since 2018 · 10 posts · 0 votes

Hi BP crew! 

I am a new-ish (4 properties total) real estate investor and am getting to a point in my portfolio where I am needing to start leveraging other lending options. I learned about a portfolio equity line of credit but was just recently declined by underwriting from a local bank. They mentioned the only way they would be willing to do a portfolio loan is if I moved all of my home loans under them. That being said, I am still very interested in getting this credit line, but would prefer not to move anything at this point if I don't have to. So, a couple of questions: 

1. Is it common for banks to request movement of existing loans to be able to be able to accomplish portfolio lines of credit? 

2. I am local to the Nashville, TN area and was wondering if anyone knew of any lenders (local or non-local) who would does portfolio lines? 

Thank you all in advance and am looking forward to learning from you guys! 

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