Heloc for investment properties

[Zacharee Carmack]

Does anyone have a bank doing HELOCs for investment properties? I think I am sitting around 80% LTV currently.

[Jody Sperling]

There is a national company that has a product called a "Life Changer Loan", and you can get that product on any property you own. There are a few stipulations that tend to be a bit tougher to qualify for than a standard HELOC, but if you can get it, it is as advertised.

I have a local bank in Omaha that has two of my rentals combined on one First Lien HELOC, but they don't work out of state. You can probably find a local bank or credit union in your area that will offer investment HELOCs too. The best way to hunt them is to go to the bank, ask who works in commercial lending, get a meeting, and explain what you want.

It sounds crazy, I know, but people in the bank don't always know what they offer and don't offer. If you speak to a mortgage lender, s/he probably won't even know the investment HELOC exists. You have to get the right audience to get the real answer. Best of luck!