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Updated about 5 years ago on . Most recent reply

User Stats

58
Posts
18
Votes
Jason Munger
  • Rental Property Investor
  • Lansing, MI
18
Votes |
58
Posts

HELOC on investment property - suggest a lender?

Jason Munger
  • Rental Property Investor
  • Lansing, MI
Posted

Looking for a lender that offers HELOCs on an investment property.

We have an investment property that we own outright. Approx $180k value. We’ve owned it for 14 years with stable rental history the entire time.

Looking for $110k to purchase and renovate the next property.

Open to other options as well if you have other ideas.

Most Popular Reply

User Stats

3,798
Posts
2,620
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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
2,620
Votes |
3,798
Posts
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied

Everything is harder to do in Texas. I have gleaned these from BP members who have posted their successes. I see Hurst, on my list below, lends in Texas. Post back what you learn! 

Ridge Lending All in One
Americafirst 80% LTV on noo 65% LTV 15 year 5.74%, Utah
Arvest Bank AR, OK, AL, MO
Bank of the west
BB&T will loan on a rental portfolio
BBVA Compass
California: Cal Coast Credit Union and Fremont Bank.
Citizens first position Heloc
CMG a financial 70% LTV
East West Bank, up to 60% LTV with "no docs”
Figure 80% on a rental, not in LLC
First Florida Credit Union https://firstflorida.cumortgagecenter.com
Great Lakes Credit Union
HSBC 70%, for premier clients only
Huntington 75% LTV
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning.
Key Bank, FLorida flexible lender, HELOCs on second homes and rental properties. 90% LTV on primary.
PenFed - max 3 other properties, 89% LTV
Regions- yes HELOC but no LOC
SCCU Florida 70% LTV, 6.25% interest only, not LLC
TD Bank
TIAA Direct was EverBank
Tower FCU, all states except TX, max 45 DTI, green card ok. Max of three rental properties. Automated appraisal.
Trustco
Union Bank, specializes in noo HELOC. KCMO, NEUnion Bank (MUFG), Specializes in NOO HELOCSUnion Bank, MUFG.
US Bank
Vectra Bank

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