Heloc/Cash out investment property

[Paras Gupta]

Hi Everyone,

I have an investment property that I own currently. The house is appraised to approximately about 340,000 and I have a loan of about $220,000 left. I have been encountering difficulties with cashout/Helocs on investment properties with credit unions/ banks. 

I am able to find lenders who are willing to do 75%, but I am looking for 80%. Primarily this money will be used for downpayment for new property. I have excellent credit and able to provide W2 and all the required documentation too. Any suggestions for banks/unions in virginia who are able to help?  

Thank you everyone. Looking for any suggestions on how to pull 80%. 

[Kyle J.]

@Paras Gupta PenFed Credit Union does HELOCs on investment properties up to 80% LTV.