HELOC on Investment Property - Living outside of FL currently

[Zane Zeman]

Hello, 

Does anyone have a credit union/lender/banker they can refer me to that will entertain a HELOC on a FL Investment Property for someone who is not currently living in Florida?

For context - I own a property in Atlantic Beach, FL. It is currently being rented out, the existing mortgage on the property is as a primary resident. I moved out of Florida in April 2021 and currently live in Denver, CO.

From what I understand, it is definitely possible but interest rates will be slightly worse and the LTV will be capped at 75-80% versus 90%.

Thanks for any insight! 

Best,

Zane

[Kerry Baird]

PenFed