Loans against Rentals

[Louis Hamric]

So I am a newby but I have found that no bank wants to extend lines of credit against rental properties even if the house is completely paid off. Seems odd to me. I have had some people offer me more traditional loans but at higher interest rates usually around 5.5% . Is there any better options? Seems strange you cant borrow against any property that is paid off, renters or not. I know 5.5% is not that much but in comparison to 3.5% and the flexibility of a Line of credit it seems rather poor. Any suggestions?