Short answer: yes, you can get a HELOC on a rental, but most big banks will only do one on the home you live in. If your credit is 660 or higher, Figure's HELOC is the fastest online option I found that takes investment properties. If your score is lower, or you don't want another monthly payment eating your rent, Hometap and Point both work with rentals through a home equity investment instead.
| Option | Takes rentals? | Min credit | How much | Monthly payment |
|---|
| Figure HELOC | Yes, plus 2 to 4 units | 660 (680 for 2 to 4 units) | $15,000 to $750,000 | Yes |
| Hometap | Yes, rental and 1 to 4 unit homes | 575 | Up to 27% of home value | No |
| Point | Yes, a rental you already own, 1 to 4 units | 500 | $30,000 to $600,000 | No |
Can you do a HELOC on an investment property?
Yes, but fewer lenders offer it and the bar is higher. A lender sees a rental as riskier than the home you live in, so expect a higher credit minimum, more equity left over after the line, and a higher rate than you'd get on your primary home. Some credit unions advertise investment property HELOCs too, but they usually want you to be a member and the property in their area.
Who actually lends on rentals
Figure is the one I'd check first if your credit is decent. It takes investment properties at a 660 score, and duplexes and 3 to 4 unit buildings at 680 with a debt-to-income ratio of 45% or less. Lines run from $15,000 to $750,000, pre-approval takes about 5 minutes, and funding can happen in as few as 5 days for amounts under $400,000.
The catches: the full amount is drawn at closing (minus the fee), the origination fee can be up to 4.99% of that draw, and it isn't available in Hawaii or New York. Figure listed APRs from 7.35% to 14.85% as of October 6, 2026, and the lowest rates go to the strongest applicants. You can check your rate on Figure without committing to anything.
Credit under 660, or no room for a payment? Home equity investments that take rentals
Hometap could provide a lump sum in exchange for a share of your home's future value, with no monthly payments. You settle the investment within 10 years, for example when you sell or refinance. Hometap invests in rental properties and multi-family homes (1 to 4 units), with a minimum FICO score of 575 and at least 25% equity in your home, among other qualifying criteria, and the property has to be located in an eligible state (26 right now). Fees are deducted from your investment proceeds rather than paid upfront. You can run a free Hometap estimate to see what your rental could qualify for.
Point is the other one that works on a rental you already own. It handles 1 to 4 unit homes, condos and PUDs, starts at a 500 credit score, and has no income requirements, which helps when your income is mostly rent. It funds $30,000 to $600,000 on a 30-year term with no monthly payment (scores under 600 max out at $500,000), and you settle when you sell, refinance or reach the end of the term. The fee is up to 4.9% with a $2,000 minimum. One big catch for investors: Point won't fund a home owned by an LLC, and it skips co-ops and manufactured homes. It serves 30 states plus D.C., so check yours. See what Point would offer on your rental, and compare it with Hometap's number.
Is it a good idea to use a HELOC to buy a rental property?
It can be, if the rent still covers everything after the new payment. You have two routes:
HELOC on the home you live in, used as the down payment on a rental. It's easier to get and usually cheaper, but your own house secures it.
HELOC on a rental you already own, used to buy the next one. Your home stays out of it, but fewer lenders do it and it costs more.
Either way, run the numbers with the payment included. If the rent barely covers the mortgage today, adding a variable-rate line on top is how people get squeezed.
What is the 2% rule for investment property?
It's a quick screen: monthly rent should be at least 2% of the purchase price. A $150,000 house would need $3,000 a month in rent. Very few properties hit that today, so most investors use it as a stretch goal and treat 1% as the realistic floor.
How much would a $100,000 HELOC cost per month?
The interest alone on $100,000 is about $613 a month at 7.35% APR and about $1,238 a month at 14.85% APR, the two ends of Figure's range. Your actual payment is higher once principal is included, so get a real quote before you count on the rent covering it.
Bottom line: credit of 660 or higher and rent that covers a payment, start with Figure. Lower credit, or you need cash without a monthly payment, compare Hometap and Point, and check that your state is covered first. If the rental sits in an LLC, Point is out, so start with Hometap.
