Who offers HELOC for investment properties?

Question

I have an investment property in Atlanta with a DCSR loan, does anyone have information on any bank or lender that offers HELOC for investment properties. Thanks in advance

Ana Labrador · Answer

Hi Josh, thank you for that valuable information and recommendation. I will do that.

Ana Labrador · Answer

Hello Mitch, thank you for the information you provide. I will keep it in mind.

Mitch Davidson · Answer

Hi @Ana Labrador. There aren't many options, but I would first call all your local credit unions and community banks. PenFed is one of the only national options. Last I checked they'll go to 60 CLTV on an investment HELOC.

Jamiel Jackson · Answer

i can try and be competitve we can get up tp 80%  please dm or email jt@atlasinvestmentsinc.net

Austin Clarence · Answer

Hi Ana-Although I am a lender myself I recommend you start with a local bank or credit union. They usually have attractive rates although a lot of the time they do not offer HELOCS on investment properties. IF you cannot find an option I would be happy to explain how my company's HELOC works on rentals, no appraisal and takes about 1 week after a soft credit check. Good luck!

Kevin Polite · Answer

@Ana Labrador Try Associated Credit union

Ana Labrador · Answer

Hey Jacob, thanks for the information. I will contact you via email

Jacob Sherman · Answer

Hey Ana ! My name is Jacob with Lendbright and we are a direct national lender specializing in bridge, fix and flip, ground up construction and DSCR welcoming first time investors ! I would love to assist you and your buyers in the refinance of your property . Can't do a heloc but can do a cashout DSCR . When is a good time for us to connect and discuss ? I can be reached at 267-516-0896 jsherman@lendbright.com

Josh Bowser · Answer

Hey Ana - this lending market is tough to get lines of credit on rental properties right now.

Typically, you're going to get your best rates / terms on HELOCs with local banks you have a pre-existing relationship with (checking, saving, brokerage accounts).

If you're banking with Regions, Synovus, or Bank OZK you should reach out to a loan officer at your branch to see what they are willing to offer. If not, I'd consider interviewing some of these banks near you to see what they can do for you - might be a relationship that is worth building if you want to scale your rental portfolio.