How do you borrow on an investment property ?

[Anonymous]

The only way I know is through HELOC or a mortgage,
1. Is there a better way to borrow on a fully paid investment property ?
2. Recommend any local banks or credit unions for the above? ( Property is in ffx county and so am I )

TIA.

[Anonymous]

Anonymous wrote:The only way I know is through HELOC or a mortgage,
1. Is there a better way to borrow on a fully paid investment property ?
2. Recommend any local banks or credit unions for the above? ( Property is in ffx county and so am I )

TIA.

We took out a $150k HELOC on our investment property through PenFed Credit Union. Also in FFX County.

[Anonymous]

I believe Pen fed CU would charge you closing costs and they are not cheap.

I have done it till $50K via Spectra FCU.

[Anonymous]

The is PP and there were no closing costs on my PENFED HELOC. This was 3-4 years ago.

[Anonymous]

Anonymous wrote:The is PP and there were no closing costs on my PENFED HELOC. This was 3-4 years ago.

I checked with PenFed and they don't do investment properties HELOCs any more.