I’m looking for a HELOC on a rental house in FLA with a small 1st mortgage. How do I find a lender
who will legitimately provide a high total-LTV HELOC on an investment house ? Thanks, ray
Call a local Mortgage Broker. Find one who specializes in Investment property and he/she will have them.
Well there are a few brokers on this board that are national that you could contact.
My question would be
How much LTV do you need ?
How long have you owned this property for?
What are your three credit scores?
What kind of documentation for income can you provide?
(Full, Stated, No Doc)
What How much money do you need?
How much to you owe on this investment property?
All of this if very important information to know.
We recently got a Heloc from National City Mortgage. I think they will do up to 110% LTV. However, anything over 80% LTV, the interest rate is prime + 2.
jennyb