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Updated almost 5 years ago on . Most recent reply

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298
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220
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Gorden Lopes
  • Rental Property Investor
  • Fremont, CA
220
Votes |
298
Posts

Local banks for HELOC on rental properties in Huntsville

Gorden Lopes
  • Rental Property Investor
  • Fremont, CA
Posted

Has any investor in Huntsville opened a HELOC on their rental properties? I am looking for references on banks who can help me with a equity line of credit on my rentals.

Appreciate your help!

Most Popular Reply

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181
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136
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Peter McDonough
  • Rental Property Investor
  • Huntsville, AL
136
Votes |
181
Posts
Peter McDonough
  • Rental Property Investor
  • Huntsville, AL
Replied

We use a commercial LOC on our rentals Interest only, appx prime plus 1%, 3 year balloon. I don't think typical lenders will put a HELOC on non owner occupied real estate--gotta move to the commercial side of things.

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