Heloc on an investment property? Lender sugestions?

[Allen Lopez]

Does any one know any financial institutions that are willing to do a heloc on an investment property? I feel like there aren’t any out there.

[Brian G.]

@Allen Lopez Pen Fed will do a Heloc at 80% LTV on a rental if it's held in your name, not in an LLC and you have 3 properties or less including your primary. 12 year draw, tied to prime + 1%, no closing costs unless a physical site visit appraisal is needed, if closed within 24 months they will back charge the fees they waived in opening your Heloc ($400-$600), you choose I/O payments or P/I payments.