HELOC (by Steve [FL]) Dec 27, 2013 8:58 AM
HELOC (by SMB [OH]) Dec 27, 2013 12:51 PM
HELOC (by Chris [CA]) Dec 27, 2013 7:29 PM
HELOC (by Roy [IL]) Dec 28, 2013 3:51 AM
HELOC (by Gary G [IN]) Dec 28, 2013 6:48 AM
HELOC (by dph [AL]) Dec 28, 2013 8:58 PM
HELOC (by Steve [FL]) Posted on: Dec 27, 2013 8:58 AM Message:
State Specific Question About: FLORIDA (FL)
Does anyone know of any banks in South Florida that will do a HELOC on rental properties? I own 4 fourplexes outright and would like to use them as collateral but have not been able to find a bank to do so. --108.251.xxx.xxx |
HELOC (by SMB [OH]) Posted on: Dec 27, 2013 12:51 PM Message:
I'm not in Florida so this won't be FL specific, but I just went through this in OH and not a single "bank" would do this for me. I had luck with a credit union though. Maybe try that route... --12.32.xx.xxx |
HELOC (by Chris [CA]) Posted on: Dec 27, 2013 7:29 PM Message:
Ask for a commercial loan! Good luck! --180.183.xxx.xx |
HELOC (by Roy [IL]) Posted on: Dec 28, 2013 3:51 AM Message:
dont use temr : HELOC. Home equity line of credit has nothing to do with rentals used as a collateral for loan. go to small local banks and ask for loan against ur rentals. I work on the same project now. they will finance but you need to have good documents ..and rent rolls --89.67.xxx.xx |
HELOC (by Gary G [IN]) Posted on: Dec 28, 2013 6:48 AM Message:
It may have something to do with their legal position. It may only be words, but ask about cash out refinancing and place a 1st mortgage on the property.
I had to do this song and dance after I bought a dozen properties with cash. What a pain. good luck I was offered 60% to 75% max. I got them at a credit union too. I joined the credit union, deposited cash funds into savings to show I really didn't need the money, got the mortgages, and moved the cash funds back out to where I got better returns. What a joke. --99.132.xxx.xx |
HELOC (by dph [AL]) Posted on: Dec 28, 2013 8:58 PM Message:
Pen Fed and Wells Fargo will in Alabama --75.232.xx.xxx |
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