Best place to look for a HELOC in Broward County, Florida

[Janis Buongermino]

Hello All,

I think this is one of the most incredible "communities" I have ever had the pleasure to be a part of! It is win-win situation for newbie investors like me and all of you amazing Gurus!!!

I am looking for recommendations on where to apply for a HELOC in Broward County, Florida? Do I apply to one bank or several?

I would like to buy single or multifamily homes in Ohio, Florida, North or South Carolina, Georgia, or Tennessee. not sure if I would rehab and flip or hold and rent. I think it would depend on the property. I did well with my last investment which I also lived in for many years and rehabbed. 

I would also like to connect with Realtors that work with lower priced homes.

Thank you for your time!

[Mike S.]

Originally posted by @Janis Buongermino:

Thank you @Lanash Latheef 

@Mike S. It is on my primary residence. Great info, I had no idea it would take that long. I read where you should apply to several places in the same day because of credit scores being accessed, is that true?

Should I pay for an appraisal before applying?

No each lender uses his own appraiser, some use automated ones.

For your credit score, it is true that you would want to have all the hard pulls taken within the same period (I believe it was around 10 days). Credit score will aggregate all pulls within that period and it would take less a hit. But why would you want to apply to many places at the same time? You can get the rate and LTV of most of the lenders without pulling your credit. Choose the best one and then apply.