HELOC on a rental property: is it possible?

[Elenis Camargo]

Hi everyone. I know back before the housing crisis it was possible to get a HELOC on a rental property, but is this still possible today? Have any of you recently done this? We have one single family home and looking to get more. Just wondering if this route would be an option. Thanks!

[Kyle J.]

@Elenis Camargo  It is possible but not a lot of banks do them so you just have to call around to find the ones that will.

There's several forum posts that mention PenFed does them.  Here's one of the recent posts: https://www.biggerpockets.com/forums/50/topics/590148-heloc-on-an-investment-property

When you call around, here's a list of questions you can ask the banks to help find the right one for you: What You Need to Know When Shopping for a HELOC.

Good luck!