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Updated almost 6 years ago,

User Stats

108
Posts
42
Votes
Paul C.
  • Atlanta, GA
42
Votes |
108
Posts

Need bank for HELOC on Rental Property

Paul C.
  • Atlanta, GA
Posted

Hi guys,

I am looking to start my BRRRR career by using a HELOC on the first home we purchased and lived in for 1.5 years, but that we have been renting out since February 2018. I have found one major bank that will give us a HELOC on a rental and called ~30 other banks/credit unions in Atlanta, Georgia and none of them would offer the HELOC unless it is a primary residence. Does anyone have any suggestions on banks that will lend on a rental property? Also, should I look for a broker that specializes in BRRRR to help me out?

Thanks for any and all advice!

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