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![Michelle F.'s profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/991443/1694706992-avatar-michellef66.jpg?twic=v1/output=image/cover=128x128&v=2)
Which Banks/ Credit Unions will do a HELOC on investment property
Hello,
Does anyone know any banks / credit unions that are doing HELOC / equity line of credit on investment properties?
I know First Tech and PenFed are, but they both have a limit of 4 financed investment properties, and I am just over that. I am not eligible for Navy Fed.
I've been researching and have called several other banks, but they all say that aren't doing HELOCs on investment properties.
Property is in Georgia.
Any banks / credit unions I should try?
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@Adah N. starting at around 10% on investment properties but they fund you the full amount immediately, so it's not exactly like a traditional HELOC where you use it when you need it.
Overall, good reviews for this product/company, but I prefer the traditional HELOC (although harder to find for investment properties). I called many banks, including some suggested on this thread, and most didn't offer on investment properties anymore, unfortunately.
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Any one know of any banks that do HELOC on Investment property in second position in northern KY?
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@Ana Williams there is only one HELOC I know of for investments, but it requires a full draw at closing. No LLCs and only single family. A HELOAN might also be an option - those are closed end seconds.
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Broker Ohio (#NMLS 2339224)
- Barrett Financial Group, L.L.C.
- 330-354-6590
- [email protected]
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Quote from @Alina Mitchell:
@Adah N. starting at around 10% on investment properties but they fund you the full amount immediately, so it's not exactly like a traditional HELOC where you use it when you need it.
Overall, good reviews for this product/company, but I prefer the traditional HELOC (although harder to find for investment properties). I called many banks, including some suggested on this thread, and most didn't offer on investment properties anymore, unfortunately.
Which banks did you find loaned a HELOC on an investment/rental property?
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Does anyone know of HELOC lenders for STR's, investment properties in Florida? Thank you in advance...