Updated almost 6 years ago on . Most recent reply
HELOC on investment property besides PenFed
Does anyone know of any local investor friendly banks in the Birmingham or Montgomery area that will allow you to get a HELOC on an investment property? We know of Penfed as an option, but want to know if there's other local options. And suggestions for lenders that do reasonable purchase and rehab fix and flip loans?? Thanks!
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@Ashley Wynn River Bank in Montgomery is very favorable for investors. We have done over 150 investment properties in Montgomery, and many of our investors that bought turn key from us had great success with them. In Birmingham one of the best investment banks that has been excellent, especially for construction loans where they will loan you the purchase price and renovation money is Eva Bank. They have better investment terms than anyone else I have worked with in the area. I have a great contact in Huntsville as well, F&B Bank! Please reach out to me personally if anyone needs phone numbers and contacts at these banks.