Looking for Bank to do a HELOC on my Rental Prop

Looking for Bank to do a HELOC on my Rental Prop

Livermore, CA · Member since 2016 · 44 posts · 13 votes

Hello BP,

I am calling banks and CUs to find one that will do a HELOC on my rental property, so far the only one i have found is Wells Fargo, but they seem difficult to deal with and sorta 'big banky' so to speak. I talked to one person in a branch that told me one thing, then i called a different branch and got another. They both needed different info from me about the property and i just didn't really feel comfortable with them.

Are there other small banks that still do this? or is Wells Fargo actually a good one to work with?

Thanks in advance

0Reply
25 views

2 Replies

Jump to latestLatest
  • Investor · San Francisco, CA · Member since 2016 · 12 posts · 1 vote
    9y

    Dan, I dont know of any HELOCs off hand, but you should try bankrate.com (http://www.bankrate.com/home-equity.aspx).  

    I have also not used Wells Fargo, but they are the largest mortgage lender in the country, so they must be okay.

  • Livermore, CA · Member since 2016 · 44 posts · 13 votes
    9y

    thanks Erik. I also called California Bank of Trust. They lend up to 55% LTV on a rental but charge some extra closing costs.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.