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Updated 6 months ago on . Most recent reply

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Max Mustermann
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No-fee HELOC for private home flipping

Max Mustermann
Posted

I want to buy a new private home and use my current primary residence equity (plus some cash) to buy a new primary house cash and then sell the old one.

So, I am looking for a HELOC with little to no closing costs, as I will retain the money only for as long as I am selling my old house after buying a new one.

Any advice? Should I try local CU or any of the larger banks such as BoA that are offering no-fee helocs online?

Unfortunately, I do own investment properties abroad that are still financed, so any lender that has experience with this would be much appreciated, the lack of experience in that regard has been a painful, and long underwriting process at first when I bought and then again when I refinanced my home a few years ago...

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