I’m seeking a LOC supported by an investment property. Does anyone have recommendations for credit unions/banks in the DC metro area that may be able to do it?

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More importantly, what is the letter of credit for? I see them in real estate transaction a lot, usually on the leasing end of it.

Take a look at Citizens Bank. I think they’re in DC. A banker who helped us on a deal in South Florida went there after she moved back up north. She may be retired though. Although I know that bank does do smaller to medium sized commercial real estate loans. But just make sure you’ve got a really good proposal for anyone first. Namely the value of the property. The state what they’ll care about—and your proposed use of the funds, of course. Good luck!

Following. About to buy an investment property in cash and might need this down the road

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