small bank / investor friendly / heloc

[Krystal Yeats]

Looking for recommendations for local lender who doesn't require seasoning of the property. Ideally investor friendly and offers 80% - 90% LTV. Great large bank recommendation? I'll take it!

Thanks!

[Chris Mason]

Originally posted by @Krystal Yeats:

@Jaysen Medhurst it will potentially be for both a primary and an investment property. If all goes well I plan on using this strategy for multiple investments. I've looked into Pen Fed, they were a good option. Thanks!

@Corby Goade I've called numerous local credit unions and banks trying to find the right fit. As of now the leading bank is Bank of Stockton with 2.5% 6month intro rate then 4.5-6% after @80% LTV. Do portfolio lenders advertise this type of lending or is this something I would need to specifically ask about?

 HELOCs are super low profit, at best they are a way to 'get you in the door' for other banking services, you've just got to keep dialing for dollars. You may find that the best HELOCs are from institutions with small regional footprints, not the big megabanks or credit unions. By definition all HELOCs are portfolio loans, FYI. :)