HELOC on paid off rental property

[Giulia Sowrey]

I have a rental property that is completely paid off and owned free and clear. I am attempting to finance another property and am wondering if I can utilize the equity in my current rental without having to do a cash out refinance/mortgage on that property. I've reached out to a few local banks and they have all responded that they do not offer a HELOC on a rental property. Anyone know of any institutions that will provide a HELOC on an owned rental property? TIA for all information!

[Kerry Baird]

I have used PenFed and TD Bank for HELOCs on investment property. Post back and let me know if you find another lender who serves you well, and I will add them to my list and pay it forward. These were all sourced pre-CV19, so eat the fish and spit out the bones.

Ridge Lending All in One, first position HELOC

AFCU does 80% LTV on NOO. Utah

Americafirst 80% LTV on noo 65% LTV Utah

Arvest Bank AR, OK, AL, MO

Bank of West (BNP Paribas) 60% LTV ELOCs

BB&T will loan on a rental portfolio

BBVA Compass

Bellwether NH and MA 85% to 100%, draw 10 yrs

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

FirstBank CO a and AZ 75% LTV

First Florida Credit Union https://firstflorida.cumortgag...

First Commonwealth

First Midwest, up to 90% Chicago area

First Republic - California

Fulton Bank

GFA Federal Credit Union 10 yr draw, 10 yr repay, MA

Granite State CU, NH 90-100%

Great Lakes Credit Union

Veritex , Texas HELOC

HSBC 70%, for premier clients only

Huntington 75% LTV 5 yr IO product available

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.

Mountain America Credit Union in Utah, 85% LTV, promo rate of 1.99%

Merchants Bank MN See Pavel Ushakov

PenFed - max 3 other properties, 89% LTV

Quorum Federal Credit Union 80% equity, owned by LLC is OK. 5 year interest only payments. New York State. Tiffany Mazzoccoli.

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 Pennsylvania

TCF Bank

TD Bank

TIAA Direct was EverBank

Trustco

Union Bank, specializes in noo HELOC. KCMO, NE

Union Bank, MUFG.

Upstate Bank in Rochester NY

US Bank

Vectra Bank - Colo

Workers Credit Union, MA 80-100%

WSFS...up to 70% on rental