Brrr lender using home equity

[Justin Pauling]

Any one know of any experienced bankers in Arizona’s west valley? Will be buying a rental property using home equity loan. Plan to refinance to conventional 6 months to a year after. Would love a one stop shop bank that has experience and can offer advice along the way. Thanks I’m advance!

[Dave Skow]

@Justin Pauling    Let me know if you  still need  a  lender  referal in AZ - thanks 

[Andrew Garcia]

Hi @Justin Pauling, I would be happy to refer you to a lender that offers both products.

Feel free to connect so we can exchange information.

Always happy to help!

[Cheryl Packham]

I am interested in this as well.  Did you find anyone?

[Zach Wain]

@Justin Pauling I run a local Mortgage Broker company in Scottsdale. Reach out if you would like to gameplan your scenario. If you buy the property with cash (whether its from a HELOC on another property or cash in the bank), you can refinance immediately using delayed financing and get a conventional loan ASAP. Buy in cash, and refi quickly.

Who knows where interest rates are going in the future, but if you would prefer to get your conventional financing done now rather than in 6 months, you can most definitely do that.

Especially with HELOC rates likely to rise as the Fed continues to raise rates, locking in a deal now might be a good option.