Banks or CUs that will do HELOC on SFH rental property?

[Joseph Agins]

I know many banks and CUs will not do HELOCs on investment properties but I have also heard here and elsewhere that many do. However, now that I am actually looking, I am having a hard time finding any and can't locate the old posts that listed some of the lenders that do. I called Wells Fargo earlier and they will do it but limit the total amount of mortgages you can have to 5 (I have 8). I have excellent credit and the property has a 40% LTV. I just need to find an institution that will do it. Or, do they just not exist in my scenario and in today's market?

[Jeremy Goettel]

So I found that Ridge Lending does AIO with investment properties 70% LTV to access equity. Seems like an interesting approach to have access for more than 10 years all while paying down the balance more rapidly than our convention 30 yr. Any experiences or cautions using this approach?

[Kerry Baird]

@Jeremy Goettel, do you know what their FICO requirements are?

[Jeremy Goettel]

For investment property I think it is 720.  680 if it is primary.

Still researching the AIO to see if it makes sense on my end but from the estimator seems like a great way if you are positive cash flowing and have large deposits each month to decrease daily interest.

[Manley Woods]

Does AIO mean all in one?

[Jeremy Goettel]

Quote from @Manley Woods:

Does AIO mean all in one?

 yes it does

[Manley Woods]

Ok. Thanks.