HELOC on Rental property

any of you guys out there know of a lender that will do a HELOC on a rental property?

BofA and Wells Fargo.

80% LTV up to 100k line at prime +0.25%

just did one last month

what kind of a credit score do you need?

I have 720+; if you are below 720, they might hit your for an extra 1/4 pt or something.

620 to start.

I think GMAC and Homecomings may go above 80%? I’m not positive so please do not quote me on that! :wink:

First Magnus can get you up to 90% last time I checked.

Are there annual maintenance fee, and cancellation fee? I think BOA does not have a annual or cancellation fee.

Depends on the bank. Cancellation fees are usually very low (200-300 dollars) and are void after a year. And HELOCs typically do not have any maintenance fees.