HELOC - Investment Properties

[Bill Lucas]

Hello all,

Anyone have any recommendations for banks that are still opening HELOCs on investment properties. I currently have a HELOC with Wells Fargo for an investment property I own in Brooklyn, NY, which the draw period will be expiring. Since Covid, Wells Fargo stopped opening new lines of credit, and from the info I gathering will completely be getting out of the HELOC business. So far the only two companies I have found doing HELOCs for investment properties are TD Bank and Better. TD's Heloc is an interest only loan during the draw period. The Heloc for Better you have to draw 75% of the amount you are approved at the time of closing. 

Any info you may regarding Investment property HELOCs would be much appreciated. 

Thanks in Advance