80% LTV non-owner occupied HELOC in Oregon?

Question

Been looking to get a non-owner occupied HELOC and would love to find one (wouldn't we all) that will go to 80% LTV. I've been looking and it sounds like maybe PenFed has a similar product so I'm going to call them, but before I do that, would like to ask for local experience...

Anyone have any luck in Oregon with local credit unions or lenders doing 80% (or even 75%) on a NOO LOC?

Thanks!

Mathew

Anyone have any luck in Oregon with local credit unions or lenders doing 80% (or even 75%) on a NOO LOC?

Thanks!

Mathew

Fritz Liedtke · Answer

I know this is an old thread, but people still read it for this Oregon HELOC info.  My research found lots of local credit unions that offer HELOCs on investment properties, including:

FirstTech

BECU

Oregonians CU

PenFed

Bank of the West

Mathew Wray · Answer

Adding in my .02 cents...

I found PenFed to be challenging to work with.

FirstTech came through for me and it was an amazing experience. They went to 75% which was good enough for my purposes, super easy to work with, quick process, and efficient.

Jay Hinrichs · Answer

I think all the credit unions have them.. I know on point does.  what LTV dont know.

but careful not to over leverage yourself.

Fritz Liedtke · Answer

The LTV varies.  Many will say 70% or whatever, but then they'll cap it at $100k or $250k.  So you have to call and ask.  It's about 5 minutes to get the info you need from each one.

I should mention that WaFd also offers them, and in my experience (I have 2 loans with them) they have the best rates arouns.

Alex Wade · Answer

Matthew,  i got one through Trailhead CU. Happy to share the LO's contact info.

Chris Shepard · Answer

Bank of the West does a 70% LTV.  I have one of those right now.

Justin Denfeld · Answer

I just spoke to PenFed and they stopped doing them in November, 2022.  They said they "may resume them in 2025 when the market stabilizes".

Brent Lawrence · Answer

You can also check out Oregonian's Credit Union. I have one from them, can't remember what LTV we went for at the time, 75% or 80%. They have 12-month intro rate.

https://www.oregonianscu.com/l...

Kelly Asmus · Answer

I have one through First Tech. Very easy to set up and super easy to access/use. I think its $50 or maybe $100 a year to keep open if I haven't used it that year.

Neal Coppola · Answer

I don't recall the LTV, however I just did two OOS HELOCs on NOO properties with Consolidated Credit Union.

80% LTV non-owner occupied HELOC in Oregon?

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