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Updated over 6 years ago on . Most recent reply

Andrew Flora's profile image
Andrew Flora's profile image
Andrew Flora
  • Rental Property Investor
  • from North Vernon, IN
  • Member since Aug 31, 2018
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Andrew Flora's profile image
Andrew Flora's profile image
Andrew Flora
  • Rental Property Investor
  • from North Vernon, IN
  • Member since Aug 31, 2018
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Andrew Flora
  • Rental Property Investor
  • North Vernon, IN
192
Votes |
136
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Private Lending & Conventional Mortgage Advice

HELOC on Investment properties

Andrew Flora
  • Rental Property Investor
  • North Vernon, IN
Posted
I own 2 duplexes and 2 SF rentals(6 doors) all free and clear. My problem is that I can't find a bank that will allow me to get a HELOC on my investment properties because they only offer a HELOC for a primary residence. I can do a cash out refinance but that's not the route I want to go. Any advice?
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Dave DeMarco's profile image
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Dave DeMarco
  • Rental Property Investor
  • from Pittsboro, NC
  • Member since May 8, 2016
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Dave DeMarco's profile image
Dave DeMarco's profile image
Dave DeMarco
  • Rental Property Investor
  • from Pittsboro, NC
  • Member since May 8, 2016
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Dave DeMarco
  • Rental Property Investor
  • Pittsboro, NC
85
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Dave DeMarco
  • Rental Property Investor
  • Pittsboro, NC
Replied

@Andrew Flora

PenFed Credit Union. Open an acct online for $5 or $10 to become a member and call the mortgage dept. I have 5 equity lines with them between me and my wife. They will limit the number you take out. Easy to work with, lend everywhere, responsive and in some cases a desktop appraisal.

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