Investment Property HELOC
Borrow against a rental or other home you do not live in with a line of credit qualified on your own income. At least one HELOC we offer accepts non-owner-occupied homes from a 640 credit score, with lines up to $500,000. Another starts at 680.
What an investment property HELOC requires
Each item below is a requirement of at least one HELOC we offer.
- A credit score of at least 640 at one program or 680 at another, or 700 if an LLC holds title.
- A line within your score’s cap: up to $200,000 from 680, $275,000 from 720 and $350,000 from 760.
- One applicant at one program. Another allows co-borrowers, including a co-borrower who does not live in the home.
- Debt-to-income of 50% or less on a one-unit rental, or 45% or less on a 2 to 4 unit rental.
- Qualifying on your verified income from bank account data, asset accounts, pay stubs or tax filings.
- A property you did not buy in the last 90 days, in a state where rentals are eligible. Texas and New York are not.
Borrow against a rental
Lines up to $500,000
Duplex to fourplex eligible
LLC-owned rentals considered
Fixed or variable rate
Qualified on your income
Can You Get A HELOC On An Investment Property?
Yes. At least one HELOC we offer accepts investment property from a 640 credit score with lines up to $500,000, and another from 680.
Saxton also offers a fixed home equity loan on a rental with at least one program. On a home equity line of credit for a property you own but do not live in, the full credit limit is drawn when the loan closes. After that, a later draw needs available credit on the line and must happen within the draw period.
Line caps on investment property depend on your score: up to $200,000 from 680, $275,000 from 720 and $350,000 from 760. The line can sit in first position on a rental with no mortgage, or in second position behind one. Third-lien lines are listed only for homes you live in.
Qualifying runs on your personal income, verified from bank account data, asset accounts, pay stubs or tax filings. If your debt-to-income comes in over the limit, you can add assets to recalculate it. Rentals owned by an LLC can also qualify. See our llc heloc page for those rules.
Why choose Saxton for an investment property HELOC
This page is for owners who want to borrow against a rental or another home they do not live in.
Built For Rentals
At least one HELOC we offer accepts non-owner-occupied homes. Scores start at 640 at one program and 680 at another.
Free And Clear Rentals
If the rental has no mortgage, the line can sit in first position. With a mortgage in place, it sits in second position.
Your Score Sets The Cap
At one program, lines run up to $200,000 from 680, $275,000 from 720 and $350,000 from 760. Another goes up to $500,000 from 640.
Duplex To Fourplex Works
2 to 4 unit rentals qualify with debt-to-income up to 45% and no more than one existing lien.
LLC Title Is Allowed
An LLC-owned rental can qualify when you own at least 25% of the LLC, score 700 or higher and apply alone. Every LLC member must be a person, and the LLC must be a U.S. LLC in good standing with no bankruptcy filings or open litigation.
Limits Stated Up Front
At one program: no co-borrowers, no homes bought in the last 90 days and no rentals in Texas or New York. Another limits you to 15 financed properties.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about HELOCs on investment property.
At least 640 at one program and 680 at another. At the program that allows LLC title, a rental owned by an LLC needs 700, and the largest second-lien line on a rental, $350,000, needs 760.
At least one program goes up to $500,000 on a rental. At another, caps depend on your score: up to $200,000 from 680, $275,000 from 720 and $350,000 from 760. How much equity you can use also depends on the home’s value and your existing mortgage.
Not on the rent alone. The line is qualified on your verified income from bank account data, asset accounts, pay stubs or tax filings. When tax filings are used, the income calculation starts from your Form 1040 and adds back amounts from Schedules C, E and F.
No. Saxton does not offer a closed-end home equity loan. This is a line of credit, and at least 75% of the line is drawn when the loan closes, or the full line at some programs. Later draws must be at least $500, or more where state law requires.
At one program, yes. It allows co-borrowers, including one who does not live in the home, as long as the first borrower owns the home. At another, only one individual can apply and a Social Security Number is required, though a spouse’s income can be included in the income you state and household income can be verified. If the property is owned jointly or in a trust, every owner signs the security instrument.
Rentals are not eligible in some states, including Texas and New York. That program also does not lend in every state, so availability depends on where the property is.
Not right away. Applications are declined when the purchase date is within the last 90 days, or when the applicant was added to title in the last 90 days.
Find out what you qualify for
Tell us about the rental, what you owe on it and your credit score, and we will show you whether a line fits.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.