Anyone left offering HELOC on investment properties?

[Andrew DeWeerd]

Hey BP! I am looking for any competitive lenders who are still offering HELOC's on investment properties? It seems like most lenders have pulled back and have restricted this to primary residences only now. The purpose for looking for a HELOC opposed to a re-fi is the flexibility of pulling money out in draws, and the low fee structure compared to a re-fi with closing costs and greater points. For example I was in process of getting one with 5/3 bank at 80% LTV, at prime to prime+0.7% and only a small few hundred dollar fee, but they literally JUST shut that product off on investment properties. I believe Wells Fargo and others have done the same. Is there any other major players left that will do this at competitive costs? This is on a BRRRR property that I've had for just 4-5 months now in Bradenton / Sarasota Florida

[Kerry Baird]

TD Bank is positively doing HELOCs on investment properties in this season.  As for the rest, I have not checked.  Eat the fish and spit out the bones (AKA do your own calling...this took me some time)

Ridge Lending All in One, first position HELOC...has to be in own name, and a few more stringent requirements. But is a 20 year adjustable and drawable product, with a further 10 year payback period.

AFCU does 80% LTV on NOO. Utah

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 Bank -Minnesota, only in-state. Kyle Potswald

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...

First Commonwealth

Great Lakes Credit Union

Veritex , Texas HELOC

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

PenFed - max 3 other properties, 89% LTV

Regions- yes HELOC but no LOC

SCCU Florida 70% LTV, 6.25% interest only, not LLC

Signature Federal Credit Union 75% LTV

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."

S&T

TCF Bank

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