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Updated about 6 years ago on . Most recent reply

User Stats

134
Posts
93
Votes
Stephan Kraus
  • Rental Property Investor
  • Las Vegas, NV
93
Votes |
134
Posts

Recommendations for HELOC / HEL for investment properties?

Stephan Kraus
  • Rental Property Investor
  • Las Vegas, NV
Posted

Whats up BP Pro`s, 

I am looking for recommendations for a lender that offers an equity loan or line of credit for investment properties, ideally with stated income / low doc requirements. 

Background: I`m trying to access some of the equity sitting in my rentals to re-invest, but my W2 income is fairly low compared to the rental and self-employment income, due to higher deductions the total taxable income and qualifying rental income is way less than my actual income. Additionally, my credit history is fairly young (although good, between 720 -770 depending on where I look) since I only moved to the US three years ago, I have no consumer-, student-, or car-debt, 100% payment history and no derogatory marks, but the Banks I inquired at either don't have LOC for investment properties at all, or my income is considered to low on paper, and I am trying to access some of the equity sitting

Thanks in advance for taking the time to answer if you can help!

Best, Stephan

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