Seeking HELOC on investment property

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Seeking HELOC on investment property

Jesse Banos
Member since 2024 · 1 post · 2 votes

Hey everyone, I live in eastern North Carolina looking to connect with a lender that could possibly help with getting a HELOC on my long-term rental property I have in Jacksonville, Nc. I've spoken to many in the area and they just don't offer HELOCS especially on investment properties. Wanting see what rates and term options are out there. Thanks in advanced!

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Will Cruz
Member since 2020 · 21 posts · 6 votes
1y
Quote from @Bryan Maddex:

I have a handful of lenders that will do HELOCs on investment properties. (at least 16 last I counted). Some will go to 70%, many will go up to 80% loan to value. I will send you a message!


 Can you please send me the info as well? 

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  • Patrick Roberts
    Lender · Charleston, SC · Member since 2019 · 1k+ posts · 1k+ votes
    1y

    I have a lender that will do Helocs in NC/SC. Not a great product, but better than nothing. I dont originate for them, but I can put you in touch with their area rep.

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  • Avery Heilbron
    Realtor · Raleigh-Durham, NC · Member since 2018 · 324 posts · 218 votes
    1y

    @Jesse Banos Coastal would do it last I checked but it is a pretty high rate

    0Reply
  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    1y

    They're available, but rates will be quite a bit higher than a refi and LTV is typically limited to 70%. Expect double digit rates. You could also explore a second lien - rates are still on the higher side, fixed rate instead of variable and it's a lump-sum loan, not a line of credit. Easier to get done than a HELOC on an investment if you definitely don't want to do a cash out refi and/or it's titled to an LLC. Most HELOCs only allow individuals to hold title.

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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  • Bryan MaddexBusiness Member
    Lender · Charlotte, NC · Member since 2015 · 159 posts · 76 votes
    1y

    I have a handful of lenders that will do HELOCs on investment properties. (at least 16 last I counted). Some will go to 70%, many will go up to 80% loan to value. I will send you a message!

    Bello Mortgage powered by Coast2Coast Mortgage
    WebsiteView Page
    0Reply
  • Will Cruz
    Member since 2020 · 21 posts · 6 votes
    1y
    Quote from @Bryan Maddex:

    I have a handful of lenders that will do HELOCs on investment properties. (at least 16 last I counted). Some will go to 70%, many will go up to 80% loan to value. I will send you a message!


     Can you please send me the info as well? 

    1Reply
  • Bryan MaddexBusiness Member
    Lender · Charlotte, NC · Member since 2015 · 159 posts · 76 votes
    1y
    Quote from @Will Cruz:
    Quote from @Bryan Maddex:

    I have a handful of lenders that will do HELOCs on investment properties. (at least 16 last I counted). Some will go to 70%, many will go up to 80% loan to value. I will send you a message!


     Can you please send me the info as well? 


     Messaging you now!

    Bello Mortgage powered by Coast2Coast Mortgage
    WebsiteView Page
    0Reply
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