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Updated over 6 years ago on . Most recent reply

Account Closed
2
Votes |
6
Posts

Does anyone have suggestions for who to use to obtain a HELOC?

Account Closed
Posted

We would like to have a HELOC available in order to make offers when a home that is worth it becomes available. Is this a wise strategy? My wife and I have a goal to rent our current home out and pick up a fixer upper to purchase and move in to. We would then do the rehab while living at the property. Would a HELOC be a good strategy to do to pay off the down payment for the second home. Also, are any of you familiar with anyone who I can reach out to for the HELOC. Please share if that's okay.

Finally, any knows a trustworthy wholesaler in the greater Tampa Bay area, please reach out me if you have a 3/2, 1600+sqft, available. SFR or Townhome preferable in Wesley Chapel, New Tampa, Tampa, Lutz, Land O Lakes, Odessa.

Thanks

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159
Posts
116
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Ron H.
  • Investor
  • Melbourne, FL
116
Votes |
159
Posts
Ron H.
  • Investor
  • Melbourne, FL
Replied

I used Third Federal.  Credit limit up to $150K.  Rate a few months ago was prime minus 1% for 10 year draw, 30 year payoff

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