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Updated over 4 years ago,
Banks doing 80% LTV HELOC's duing COVID-19?
Hello all, newbie here!
Just closed on my first buy & hold rental property outside of Chicago all cash close. I had planned to get a HELOC through PENFED to recoup my liquidity. I talked to a rep yesterday asking about their investment property NOO program and was asked to fill out an application. Upon turning the APP in I get notice that they are not loaning on investment properties at this time.
So my question: What other banks will loan in the Chicago area for up to 80% CLTV during this pandemic?
Thank in advance for any information