we do own few houses in fresno,CA area. we would like to pull the equity out through HELOC for other investment. Some of big banks do not offer HELOC for investment property. can you guys please suggest/refer the lenders who does provide HELOC on investment property? Appreciate your help!
I used Pentagon Federal Credit Union but Wells Fargo, Bank of the West, Safe Credit Union and Union Bank will give HELOCs on rental properties.
Thank you @Alisa Gonzalez . I will start calling each one and find out what each one offers. it helps. Thanks again.
Are you able to get a Heloc from any of the banks? I'd like to pull some equity from my rentals too.
@Jeff Low - I am going to work on this month.
I tried to get a HELOC on my rental through wells fargo a few months back. They told me 60%ltv and has to be a minimum of 25k.
TD Bank and PenFed are my favorites. US Bank is one I haven't used, but is recommended.
@Kerry Baird Are tour rentals under your personal name or under your LLC? I'm also looking for HELOC but my rentals are under LLC.