HELOCs on Rental Properties

[Michael DeVane]

After extensive research on HELOCS, I found only one bank (or credit union) that offered a HELOC on rental properties. They only allow a 60% LTV and a rate of 6.125% based on prime of 3.25 plus margin of 2.875. Is this typical of what the rest of you find for these? Thanks in advance for your advice.

[Kerry Baird]

These were gathered before the CV19 issues.  I've gleaned these lenders from the kind people on BP. I have used PenFed and TD Bank for HELOCs on investment property. Post back if you find another lender who serves you well, and I will add them to my list and pay it forward.

Ridge Lending All in One, first position HELOC

Americafirst 80% LTV on noo 65% LTV 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.cumortgag...

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.

Merchants Bank MN See Pavel Ushakov
>=700 (credit score), <=80% LTV the rate would be Prime - .25% 
>=700 (credit score), 80.1% - 90% LTV the rate would be Prime + .50%
>=700 (credit score), >90%, the rate would be Prime + 1.75%
30 years; 10 yr draw, 20 yr repayment.
Annual fee $25.


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.

US Bank

Vectra Bank