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8 min. read
09/23/2022

Here’s a List of Investment Property HELOC Lenders in (Almost) Every State

Tim Lucas Photo
Senior Editor
Here’s a List of Investment Property HELOC Lenders in (Almost) Every State
Tim Lucas Photo
Senior Editor
8 min. read · 09/23/2022

As you already know, it’s much harder to find a home equity line of credit (HELOC) lender for investment properties than it is for your primary residence.

And, most articles on the topic are completely unhelpful. They say “Finding a HELOC for investment property is like finding a needle in a haystack.” Thanks, Sherlock. That’s code for “I didn’t want to research rental property HELOC providers in every state.”

Well, we did feel like it. That’s why we’ve done some pretty intense homework to provide you the best list in existence of investment property HELOC lenders.

What’s in this article?

Notes about our list
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Investment propery HELOC lender list
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Tips to find an investment property HELOC lender
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Investment property HELOC alternatives
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Get help finding an investment property HELOC lender
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Some notes

We weren’t able to find a lender in every state, but we came close. Contact us if you know of an investment property HELOC lender in one of our missing states.

Note: This list is nowhere near exhaustive. There are likely banks and credit unions that are local to you that offer HELOCs on investment properties, but we couldn’t call every bank branch in the country. It’s still worth calling your local bank, forming a relationship, and seeing what they can do for you.

One more note: Some lenders will only do a first-lien HELOC. This means the property has to be owned free and clear, or that the HELOC must replace the existing first mortgage. Most investors want a second-lien HELOC that can be placed on top of their primary mortgage, so we noted if the bank can only do first liens.

Oh yeah, one more: Lenders may not lend in the whole state. And, banks change their rules often. While we verified their guidelines to the extent possible, we can’t guarantee each lender will always offer rental property HELOCs. Check with each lender on their service area and up-to-the-minute guidelines.

HELOC for investment property: lender list

Alabama
Listerhill CU
Arvest Bank. Can apply in the branches only. States serviced: AR, OK, AL, MO. Max LTV is case-by-case.
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Alaska
None known

Arizona
Persevere Lending
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Arkansas
Arvest Bank. Can apply in the branches only. States serviced: AR, OK, AL, MO. Max LTV is case-by-case.
Castle & Cooke Mortgage. Home equity loans only, no lines of credit

California
California Coast CU
East West Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Colorado
Persevere Lending
Hurst Lending
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Connecticut
Mutual Security CU. Fixed and variable rate available up to $100,000, 10-15 years terms.
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Delaware
WSFS Bank
TD Bank. $25,000-$500,000
Fulton Bank
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Florida
First Choice CU: First lien only (can refi existing 1st mortgage) and max LTV of 60%. 
Hurst Lending
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Georgia
Hurst Lending
East West Bank
Great Lakes CU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Hawaii
Persevere Lending

Idaho
Persevere Lending
Hurst Lending
WaFd Bank
Bank of the West

Illinois
Great Lakes CU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Indiana
Great Lakes CU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Iowa
Hurst Lending
Great Lakes CU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Kansas
Bank of Blue Valley
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Kentucky
Great Lakes CU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Louisiana
Hurst Lending
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Maine
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Maryland
TD Bank. $25,000-$500,000
Fulton Bank
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Massachusetts
Bellwether Community CU. These are considered business loans at this bank.
East West Bank
TD Bank. $25,000-$500,000

Michigan
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Minnesota
Citizens Bank Minnesota. NOO HELOCs available in some markets within the state. Typical LTV is 75%.
Great Lakes CU
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Mississippi
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Missouri
Arvest Bank. Can apply in the branches only. States serviced: AR, OK, AL, MO. Max LTV is case-by-case.
Great Lakes CU
Bank of the West

Montana
First Security Bank. From the website: “A HELOC can be offered on rental properties.” Communities served: Missoula, Hamilton, Corvallis, Stevensville, Lolo, Thompson Falls and Plains.
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Nebraska
Dundee Bank business services
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Nevada
Persevere Lending
East West Bank
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

New Hampshire
Bellwether Community CU. These are considered business loans at this bank.z
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

New Jersey
TD Bank. $25,000-$500,000
Fulton Bank
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

New Mexico
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

New York
Quorum FCU – 5 year draw, 10 year repayment. $250k max loan. 1-4 unit, PUD, condo, townhouse.
East West Bank
TD Bank. $25,000-$500,000

North Carolina
State Employees CU
TD Bank. $25,000-$500,000
Local Government FCU
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

North Dakota
Bank of the West

Ohio
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Oklahoma
Arvest Bank. Can apply in the branches only. States serviced: AR, OK, AL, MO. Max LTV is case-by-case.
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Oregon
Oregonians CU
Persevere Lending
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Pennsylvania
First Commonwealth Bank – Requests are considered business loans and are handled inside the branches and decided by branch managers. 
TD Bank. $25,000-$500,000
Fulton Bank
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Rhode Island
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

South Carolina
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

South Dakota
Bank of the West

Tennessee
Persevere Lending

Texas
Hurst Lending. Max LTV 60-70%. First-lien HELOC only.
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Utah
America First CU
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Vermont
TD Bank. $25,000-$500,000
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Virginia
Signature FCU
Hurst Lending. Max LTV 60-70%. First-lien HELOC only.
TD Bank. $25,000-$500,000
Fulton Bank
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Washington, D.C.
TD Bank. $25,000-$500,000

Washington State
WaFd Bank
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

West Virginia
None known

Wisconsin
Great Lakes CU
Bank of the West
Castle & Cooke Mortgage. Home equity loans only, no lines of credit.

Wyoming
Persevere Lending
Bank of the West

Tips to find a HELOC for an investment property

Check with business lending: Often, the home mortgage or HELOC department within a bank or branch will tell you they don’t do investment property HELOCs. That likely just means their department doesn’t do them. Call the business side, because many lenders consider these commercial or business loans, not residential.

Form relationships: Call local banks in your area and meet with bankers inside the branch. Describe your needs. Often, the bank can create lending solutions for you based on the fact that they know you and that your business is solid.

Go to the branch: Some of the banks we talked to told us that they only handle investment property HELOC requests inside the branch. Decisions are made by branch managers. Again, your relationship with a branch manager will pay off.

Think local: Many branches only issue investment property HELOCs within a certain number of miles of a branch, or only in certain cities in a state. These are highly local products. Visit bank branches close to your property for best results.

Rental property HELOC alternatives

HELOC on your primary home: Tap into up to 100% of your home’s value via a HELOC. (We made a state list for this product, too.) Use those funds to update a rental or buy another one.

Get a cash-out refinance on the rental: Most lenders offer a standard cash-out refinance on rental properties. The drawback, though, is that you have to replace your existing first mortgage, which might have a low rate. Plus a full refinance comes with high closing costs.

Cross collateralization: Banks may allow you to open a line of credit secured by your entire rental portfolio instead of just one property. This is considered a business loan, so ask for the right department when you call a bank or credit union.

Need help finding an investment property HELOC lender?

Finding an investment property HELOC is no easy task. Go to the link below if you need some help and we’ll see what we can do.


More on HELOCs