Best HELOC Lenders for an Investment Property | August 2022
The equity built up in your investment property is an important asset that doesn't have to just sit there gathering dust. Instead, it can be leveraged through a home equity line of credit (HELOC) to maximize your investment. Learn more right now about the best HELOC lenders for your investment property.
You probably already know that you can take out a home equity line of credit on your primary residence. However, you may not realize that a HELOC on an investment property is also a great way to maximize that unused pile of cash.
Perhaps you want to make some home improvements on your rental property to optimize its earning potential, have a big purchase in mind, or other investments you want to make.
The thing is, investment property HELOCs can be a little tougher to find, and gain approval for, than a HELOC on your primary residence. That being said, it is possible. Lenders who offer HELOCs on investment properties generally have more stringent approval requirements, higher interest rates, and stricter loan terms.
Here is SuperMoney's list of the best HELOC lenders for an investment property.