HELOC in Syracuse, New York

[Thadeous Larkin]

Hola friends,

Hypothetical: I buy a house in Syracuse for cash and then need to finance the flip.  (Don’t fight the hypothetical, that’s the situation)

In trying to finance the flip, which will cost between $40-$50k, the only way I can think to finance it is a HELOC. Traditional financing is probably out because of debt-to-income ratio.

Anyone know the pitfalls of getting a HELOC in New York, or have any preferred lenders?

Your thoughts appreciated.