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Updated about 6 years ago on . Most recent reply

Paul C.'s profile image
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Paul C.
  • from Atlanta, Georgia
  • Member since Nov 29, 2015
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Paul C.'s profile image
Paul C.'s profile image
Paul C.
  • from Atlanta, Georgia
  • Member since Nov 29, 2015
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Paul C.
  • Atlanta, GA
42
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108
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Private Lending & Conventional Mortgage Advice

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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Chris T.
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  • from Downers Grove, IL
  • Member since Aug 10, 2015
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Chris T.'s profile image
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Chris T.
  • Investor
  • from Downers Grove, IL
  • Member since Aug 10, 2015
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Chris T.
  • Investor
  • Downers Grove, IL
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Chris T.
  • Investor
  • Downers Grove, IL
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@Michael Barbari

Do First Midwest Bank lend in GA? 

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