HELOC Lender Recommendations

[Peter Trifan]

Hey folks,

Hope everyone is doing well. I was wondering if anyone had any contacts and/or recommendations for any Lenders that do HELOCs for rental properties. I'm located primarily in the Ann Arbor, Michigan area. 

Thanks in advance,

Pete 

[Erik Estrada]

Quote from @Peter Trifan:

Hey Erik,

Thanks for the reply. Yeah, it would be to purchase another property. 

HELOC's are variable in interest rate. So even if you did one on your primary, you'd jeopardize yourself to the Fed hikes. If your goal is to buy for a long-term hold, I would highly suggest doing a cash out refinance instead, so you can have a fixed mortgage payment.