I have excellent credit but no money for a deposit. 

The only credit I gave him is for the floor but I shouldn't have done that.

It really should be recorded but we are a little more loosey goosey with things since it is a line of credit and is paid on direct draws.

@Jay Hinrichs,Brighton Bank will lend to out-of-state investors, but they say everything is contingent on credit quality and debt service capacity.

It has solid cash flow and great tenant currently living there.Can anybody recommend me a bank/credit union/financial institution that can provide me 200K HELOC  (up to 70% LTV)?

Good afternoon everyone, I’ve looked far and wide for guidelines in regards to purchasing a second home, but I cannot for the life of me find the credit score requirement, down-payment, etc for the state of Florida.

@Ian I LeinwandFrom a Private Money Portfolio lending aspect you would most likely have (2) options on a (2-4 unit). 1) Rehab/Fix and flip type loan if rehab/repairs are needed >$5k- Depending on experience and Credit, acquisition LTV would be between 85%-95%, estimated Interest Only rate 7.09%--9.99% w/ 1 point for 9 months.  2) Rental Loan (2-4 unit), Depending on Credit, Max 75% LTV (80-85% SFR), Estimated 5/1 ARM rate 7.125% Full AM. or 7.375% Interest Only w/1 point.  

I'm a small business owner and my wife is a real estate agent (and ex interior designer), we both have 700+ credit scores, but not enough cash on hand to cover the difference between the usual 70-75% loaned by hard money lenders and the total cost of projects in the Tampa area.  

Keep good credit and save $$$!

Obviously if you have any other high interest debt like credit card debt pay that off first.I would still stand by what I said earlier and pay off all student debt first.My mortgage debt is almost all at 5 percent and I’m already paying that down ahead of schedule.