Banks/CUs that will do HELOCs on rental property

[Callie Brown]

We are wanting to pull some equity out of our rental unit to use as a down payment on a second property. We are having some difficulty finding lenders that will do a HELOC on our investment property. We have contacted several local credit unions and banks and they only do owner-occupied. So far, penfed seems like our only option. (I'm aware that TD bank and Wells Fargo do these, but based off reviews, it seems they're not worth the trouble).

Has anyone successfully done this and which lender did you use? Conversely, have you had any bad experiences (either with a particular lender or using a HELOC for down payment)?

P.S. - the property we want to tap for equity is located in NC, if that makes any difference.

Thanks!