Looking for a HELOC on an investment property.

[Elwin Green]

Happy Friday! Looking for a recommendation.

I have a property that my company owns free and clear. According to Realtor.com, it's worth $120k.

I'd like to tap into that equity with a HELOC.

Has anyone here gotten a HELOC on an investment property? If so, who was the lender, and how was your experience?

TIA!

[Carlos Valencia]

Hello Elwin, 

If its free and clear you should just do a cash out refi. It will be a more cost effective rate than a Heloc. Helocs are almost like hard money rates lol. HElocs are prime 8.50% plus 2-3% depending on the Heloc product you use. Refis are more in the 7-8s for investments. 

@Albert Bui @Matthew Kwan