Looking for LOC against investment property

[Cameron Iarrobino]

Hello - I am located in Boston suburbs, and am looking for local lender who offers a line of credit against an investment / rental property, preferably up to 75% LTV. Please comment below if this is something you can help with

[Chris Seveney]

Quote from @Cameron Iarrobino:

Hello - I am located in Boston suburbs, and am looking for local lender who offers a line of credit against an investment / rental property, preferably up to 75% LTV. Please comment below if this is something you can help with

 I am not familiar right now with any lenders providing lines of credits on investment properties. There are some other posts on this topic that you can search and see if anyone has dropped any names. I also recommend searching some local banks and credit unions and see if they provide this type of lending.

The line of credit space is pretty dead right now as most institutions (while they will not admit it publicly but actions speak louder than words) are not lending this product due to concerns with home prices and borrower over leveraging.

[Marc Greger]

Instead of a LOC you could also look at a cashout refi, or look for a private lender. How much equity do you have on the property?

[Joe Rodriguez]

Hey Cameron! I did this twice recently. Both properties are in RI (not MA) but the lenders can do MA as well.

1. Bay Coast Bank

2. TD Bank

I tried a few lenders before these as many didn't do investment properties but I had asked the same question on bigger pockets and an investment group I belong to and got some good results. Hope that helps!