HELOC from rental property

[Nicholas Fogal]

Hello! What banks have you all had luck with for HELOC's?

I recently rented out of my former primary residence and tried to get a HELOC through US Bank. My goal with the HELOC is to use the money to purchase another investment property. US Bank told me they could not since it is not my primary residence and their Mortgage Department would have to reach out.

Does anyone here have experience with US Bank HELOC's and if not, maybe HELOC's in general and has recommendations. Any help would be greatly appreciated. Thank you!

[Nicholas Fogal]

Quote from @Nathan Grabau:

Heloc's on investment properties are getting increasingly tricky as secondary markets dry up. What LTV are you trying to get to? Even if you have one that will lend to you, the terms are normally not great, and often refi'ing the main loan on investment makes sense.

Either 70 or 80 LTV. Refinance is off the table, in my opinion. My interest rate on the house is under 3 and I'm not wanting to touch that.