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Private Lending & Conventional Mortgage Advice

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Duane A. Snow
  • Wisconsin
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Home Equity Agreement? HEA

Duane A. Snow
  • Wisconsin
Posted Apr 7 2024, 16:01

Alright everyone. We are looking to build a guest/STR house on our property. Has anyone ever used an HEA? pros, cons, and who would you go through?

Thank you for your help.

Duane (ANDY)

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Mike Grudzien
Pro Member
  • Lender
  • Eugene, OR
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Mike Grudzien
Pro Member
  • Lender
  • Eugene, OR
Replied Apr 7 2024, 17:24

Duane,
What not a HELOC at a good rate from your local credit union?
Why HEA?

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Duane A. Snow
  • Wisconsin
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48
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Duane A. Snow
  • Wisconsin
Replied Apr 8 2024, 09:31
Quote from @Duane A. Snow:

Alright everyone. We are looking to build a guest/STR house on our property. Has anyone ever used an HEA? pros, cons, and who would you go through?

Thank you for your help.

Duane (ANDY)


 Trying to see if there would be an advantage to a HEA. Do you know any ins and outs? Would Heloc be better than refi right now too?

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Jacob Sherman
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#1 Rehabbing & House Flipping Contributor
  • 12 Penns Trail Suite 138 Newtown, PA 18940
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Jacob Sherman
Pro Member
#1 Rehabbing & House Flipping Contributor
  • 12 Penns Trail Suite 138 Newtown, PA 18940
Replied Apr 8 2024, 09:33

Is it going to be an ADU ? accessory dwelling unit