Hello from Rookieland! I have a long term investment property that was originally our primary residence for 6 years, so it has quite a bit of equity. I would like to open a HELOC on it to fund repairs on new yet to be found investment property BRRR, but I am finding that most lenders don't open HELOCs on investment properties and the interweb says I should ask groups like this. Anyone know someone who does? Myself and property are located in North Carolina if that matters. Thanks! Christin
@Christin Prince reach out to PenFed Credit Union, I just opened a HELOC on a rental property of mine several months ago at 75% LTV
@Brendan Miller thank you!