Obtaining a HeLoc on a CT rental

[Benjamin Dilg]

Hey BiggerPockets family,

I have a rental property in CT and am looking for a lender to take a HeLoc out on the property. I've called over 40 lenders in the area and still cant seem to find one which will even consider a HeLoc on a rental. They all state that they only give HeLocs on a primary residence. 

Does anyone have experience getting a HeLoc on a rental in CT? Or has anyone figured out a way to demonstrate your rental as your primary residence through some sort of loophole?(I'd imagine this to be risky and time consuming)

FYI: I am out of state but do have properties I can potentially list as a primary residence in CT other than my rental. 

Any information helps and I appreciate your time and consideration!

Cheers!

-Ben

[Kerry Baird]

I was searching for a long time, too. I finally built this list from other here on BP and my own calls. I have used Penfed and TD Bank. 

Ridge Lending All in One
Americafirst 80% LTV on noo 65% LTV 15 year 5.74%, Utah
Arvest Bank
East West Bank, up to 60% LTV with "no docs”
First Florida Credit Union (Jacksonville area)
Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning.
Key Bank, flexible lender, HELOCs on second homes and rental properties. 90% LTV on primary.
PenFed
LendingTree is a broker, connects you with multiple loan providers, some sub prime. 3 to 5 week for underwriting is a long time.
TD Bank
Tower FCU, all states except TX, max 45 DTI, green card ok. Max of three rental properties.
Trustco
Union Bank, specializes in noo HELOC
US Bank
Figure