ELOC on Homestead when owning more than 4 investment properties

[Adriel Ramirez]

Has anyone been successful in getting an Equity Line of Credit approved on their Homestead when owning more than 4 investment properties in addition to their Homestead?

... I own my homestead and 11 rental properties and Wells Fargo told me that in the industry no one will approve me an ELOC when I own more that 4 properties in addition to my homestead. 10 properties have conventional loans.

Any experience with this or comments will be appreciated !  My plan was to establish an ELOC on my homestead to make more investments.

Thanks.

Adriel Ramirez.

[Andrew Postell]

@Adriel Ramirez sorry I did not catch this sooner but this is just certain bank rules. You can ABSOLUTELY find a lender who can provide you a HELOC with 4, 5, 15 investment properties on your homestead property. I would recommend to continue to call around. Try smaller, local banks in your area. Maybe some banks that you haven't heard of...those are usually the better ones to work with. Large, national or publicly traded banks are out. They have too many restrictions for us investors. Good luck!