HELOC
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
HELOC (by Mike [PA]) Feb 24, 2021 9:56 PM
       HELOC (by razorback_tim [AR]) Feb 24, 2021 10:10 PM
       HELOC (by Mike [PA]) Feb 24, 2021 10:22 PM
       HELOC (by Ray-N-Pa [PA]) Feb 24, 2021 10:46 PM
       HELOC (by Robert J [CA]) Feb 24, 2021 10:53 PM
       HELOC (by Frank [NJ]) Feb 24, 2021 10:56 PM
       HELOC (by MAP [NY]) Feb 25, 2021 1:38 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

HELOC (by Mike [PA]) Posted on: Feb 24, 2021 9:56 PM
Message:

Anyone have any luck finding a HELOC on an investment property? It seems the banks have stopped this as I've called quite a few.

--24.115.xx.xxx




HELOC (by razorback_tim [AR]) Posted on: Feb 24, 2021 10:10 PM
Message:

Find a local bank that does portfolio lending and talk to a commercial loan officer. --70.178.x.xx




HELOC (by Mike [PA]) Posted on: Feb 24, 2021 10:22 PM
Message:

I have tried that so far nothing under 6% --24.115.xx.xxx




HELOC (by Ray-N-Pa [PA]) Posted on: Feb 24, 2021 10:46 PM
Message:

What county are you investing in? --24.154.xx.x




HELOC (by Robert J [CA]) Posted on: Feb 24, 2021 10:53 PM
Message:

Banks are guided by Federal Guide Lines and always want my roster of real estate holding, stocks, bonds, cash and all assets. No way, I need to protect my assets because this paperwork can be had in any law suit.

Instead I would go to private lenders. Since most loans are 3,5,10,15,20 or 30 years, and the average home owner owns property for 7 years, the lender makes points and fees...on loans.

Years ago when looking at a retail store, all banks wanted too much information and wanted 50% down. A private lender was happy to fund my deal, 30% down, 1% over the going interest rate and only a $1,000 fee. The loan was fixed for 2 years then became variable, up to 1/4% every 6 months, with a limit of a 5% increase over the life of the loan. --47.155.xx.xxx




HELOC (by Frank [NJ]) Posted on: Feb 24, 2021 10:56 PM
Message:

We had good luck with Credit Union this time last year

--174.225.xxx.xxx




HELOC (by MAP [NY]) Posted on: Feb 25, 2021 1:38 PM
Message:

Just got one from PenFed credit union about 6 mos ago. Rate is 4.5% Not sure if they are tightening up now or not though --72.231.xxx.xx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: HELOC
Your Name:
Your State:

Message:
HELOC
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: