HELOC
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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

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



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