Looking for a 30 yr fixed HELOC lender

[Wyatt Powers]

Hey BP!

I struck out finding a 30 yr fixed HELOC lender in my local city and was wondering if anybody has a referral for a HELOC in South Dakota or a national lender? Probably a long shot but wanted to ask anyway!

My business partner owns his house free and clear with no mortgage, a great credit score, and has a good chunk of cash to invest and we can utilize his HELOC to pay in "cash" and use his actual cash for rehab costs to get into a few deals. I was planning on looking for a fixed HELOC so if rates rise even higher I can get a good rate locked in for the next 5-30 years to use, refi out of the house, pay off the HELOC, keep the cash flowing assets, and repeat over and over again. I wasn't sure if a variable rate or a fixed rate would be better but compared to hard money and private money loans if I can keep it under 7-8% APR and under 2 pts I'd be happier than a leprechaun with a pot of gold!

Does anybody have a referral/bank they used that does this?

[Stephen Hilton]

US Bank still does Helocs and I believe they are national.  I started with them but ended up going with a local credit union instead (I'm in California).  I would definitely look at the credit unions and local banks before nationals but that is just my 2 cents.