HELOCs for Investment Properties for SFH in GA

[Chukwudi Motanya]

Hi All,

I am an investor in the Atlanta GA area with 8 SFH properties that have some equity in them that I would want to utilize with a HELOC. My properties all have 1st mortgages but trying to find a way to get a HELOC on top of the 1st for the investment properties

Ideally I would leverage my 1st and 3rd property because combined my mortgages are 70k but total value of both is 320k. Would just get the HELOC under these two.

I've called a couple of banks and have gotten "No's". To save anyone else who is looking time I've listed the banks in GA who have rejected me. Does anyone have recommendations on where I could look?

Could a Commercial Lender potential help me?

PenFed

- They do HELOC on investment but if you have 4 or more properties they will only do on Primary house

Wells Fargo

- Not offering HELOCs during Covid

American Airlines Credit Union

- Only accessible to Airline workers

Peach State Federal Credit Union

- Do not offer HELOC on Investment properties

Georgia Own Credit Union

- Do not offer HELOC on Investment properties

Delta Community Credit Union

- Do not offer HELOC on Investment properties