I'm looking for a HELOC or just a second loan for an investment duplex in Texas.?

Question

Looking for either: Home Equity Line of Credit or Home Equity Loan

Property: Duplex - Investment Property (NOO)
Excellent credit
LTV require up to 90%-95%
Low closing cost
Interest rate < 10%

Answer 1

Texas has unique home equity loans. You cannot get a home equity loan or line of credit on investment property. But you can get a cash out loan. It's just not called a home equity loan.

FYI, the max ltv on heloan in TX is 80%, including primary financing, and on heloc the total financing can be only 80% with the loc ltv 50% max. Heloc in TX has other odd features, like the minimum draw is $4000.

There are a lot of banks that will do this type of loan for you. One to try is Bank of America.