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Updated over 1 year ago on . Most recent reply

User Stats

21
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6
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Jeff Sadosky
  • Rental Property Investor
  • Arlington, VA
6
Votes |
21
Posts

HELOC providers on rental properties in Northern VA

Jeff Sadosky
  • Rental Property Investor
  • Arlington, VA
Posted

Trying to check in with Northern Virginia (Arlington, Falls Church, Alexandria, Fairfax, etc) or Washington DC/Montgomery county investors to see if you guys had any recommendations on DC area local banks that will do HELOCs on rental properties, the first four or five that I've called have been more than willing to do so on a vacation house or a primary residence, but not on a rental...any ideas are appreciated. 

Most Popular Reply

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3,761
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2,597
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Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
2,597
Votes |
3,761
Posts
Kerry Baird
  • Rental Property Investor
  • Melbourne, FL
Replied

I have used TD Bank and PenFed for my HELOCs, but have gleaned this list from the affable people here on BP, who share their experiences.  US Bank is also a strong contender, btw.  Please post back if you have success with a lender, so I can update my list and share with others.  Thanks~!



Ridge Lending All in One, first position HELOC.
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
Boeing employee credit union
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
Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”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, NE
Union Bank (MUFG), Specializes in NOO HELOCS Union Bank, MUFG.
US Bank
Vectra Bank

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