Need help with HELOC on a rental property

[gld2]

Hello, I would like to do a HELOC on my rental properties.  Does anyone know of any banks /Brokers who might be willing to offer HELOC on a rental?  Thank you

 

[usctrojancpa]

Hello, I would like to do a HELOC on my rental properties.  Does anyone know of any banks /Brokers who might be willing to offer HELOC on a rental?  Thank you

PenFed CU used to do them but I think they stopped earlier this year.

 

[sgip]

Most HELOC vendors are hiking margins, cutting Combined Loan To Values, or exiting the biz completely. If this HELOC is simply to have "dry powder" in the face of a recession, there are very few options available today for Non-Owner lines of credit. Given a rising Prime Rate, most HELOC's will be in the 8-9 range, if not higher in 2023. At those rates, a cash out refi is likely a less painful option - assuming in this scenario "cash right now" and not "dry powder" is needed.

I have a broker contact and will PM you their info. They may still have resources available to help.