Where to shop for a HELOC/LOC

[Alexander Lang]

Hello BP,

I just wanted to get some perspective from fellow investors on going after my second single family buy and hold property which I would plan to possibly use a HELOC/LOC to secure the 20-25% down my lender requires for my second loan. This post regards the lending and finance aspect, specifically the HELOC and which institution may provide the ideal line of credit.

Does anyone suggest large banks over small banks, private vs public, Ect?  

I have contacted the lender/mortgage company that I did my first rental property and homestead property with, as well as my large banking institution (US Bank) and really it just seems that it boils down to the LTV%, type of line you want whether HELOC or fixed rate line of credit, and possible fees associated or costs.

I have never done one, so I am feeling a bit of the "analysis paralysis" going on at this point. 

Thanks all!!

Alexander Lang