HELOC Lender Recomendation for Investors

[Ryan Lane]

Looking for a recommendation for a lender to open a HELOC. Have about $900k in equity and hoping to tap $400k to $500k to fuel my BRRR strategy. Tapping the $500k plus outstanding mortgage stays well below 75% of the home value.

Hoping to find a real estate investment minded lender.

I recently went live on a vacation property in the mountains 12/10/2022. Local lender is holding that mortgage against their debt to income ratio, but not wanting to include any revenue from the short term rental bookings. We can still tap into the equity, but much less than we were hoping.

Have strong bookings aligning with the expected revenue targets by season we established with the property management company.

Any lenders that won’t require 2 years of revenue on the short-term rental, or ones that will go above a 40% debt to income ratio? Wife and I are both w2 earners with 40% limit seeming a bit conservative based on earnings, and we have credit scores hovering around 800.

Thanks in advance!

Ryan