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User Stats

32
Posts
8
Votes
Stuart Cairns
  • Investor
  • Alexandria, OH
8
Votes |
32
Posts

1st Lien HELOC on investment property

Stuart Cairns
  • Investor
  • Alexandria, OH
Posted

I am looking for an HELOC loan, 1st lien on my investment property.
Anyone know of a lender who will HELOC a 1st lien on a rental property?

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7,881
Posts
6,283
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Andrew Postell
Lender
Pro Member
#1 Creative Real Estate Financing Contributor
  • Lender
  • Fort Worth, TX
6,283
Votes |
7,881
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Andrew Postell
Lender
Pro Member
#1 Creative Real Estate Financing Contributor
  • Lender
  • Fort Worth, TX
Replied

@Stuart Cairns this should be pretty easy.  We just have to get you in the right place.  Bigger Pockets is a great resource but if you need a plumber, electrician, title company...or even lender - then we need local expertise.  Try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. You have several in Ohio.  Even facebook might have some good local groups for you. Some of those facebook groups have thousands of members. Eventbrite too. But post locally for this. That’s the best bet.

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User Stats

568
Posts
635
Votes
Austin Steed
  • Real Estate Agent
  • Columbus, OH
635
Votes |
568
Posts
Austin Steed
  • Real Estate Agent
  • Columbus, OH
Replied

I've used Wright Pat credit union. They'll go up to 100% LTV

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CV3 Financial
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Sponsored
Fix & Flip | DSCR | Construction Loans Up to 90% LTV - Up to 80% Cash Out - No Income Verification - No Seasoning Requirements

User Stats

32
Posts
8
Votes
Stuart Cairns
  • Investor
  • Alexandria, OH
8
Votes |
32
Posts
Stuart Cairns
  • Investor
  • Alexandria, OH
Replied

Hi Austin
I had never heard of them till today. I found them doing a search during my lunch break. I am just sitting down to follow up but I didn't see that they offered this to rental property. Off to investigate more and thanks for sharing.

User Stats

32
Posts
8
Votes
Stuart Cairns
  • Investor
  • Alexandria, OH
8
Votes |
32
Posts
Stuart Cairns
  • Investor
  • Alexandria, OH
Replied
Quote from @Austin Steed:

I've used Wright Pat credit union. They'll go up to 100% LTV


 Hi Austin, did you do that on a rental? They told me today, only if I live in the rental property.