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Updated about 7 hours ago on . Most recent reply

User Stats

19
Posts
1
Votes
Andre Mccollough
  • Real Estate Broker
  • San Diego, CA
1
Votes |
19
Posts

Buddy in NJ needs a HELOC.

Andre Mccollough
  • Real Estate Broker
  • San Diego, CA
Posted

I have a long time friend in NJ who needs a HELOC on their home.
He came to me to help him find someone.

here is rundown
home - 650k
1st -160k
2nd-90k
self employed (appraiser)
bank statements -130k
credit 690


also has a rental
value 230k
1st -45k


he was trying to do a Hometap on OOC but didn't fly due to a small balloon on the end of his 1st mtg.
I suggested Angel Oak but that didnt work due to not enough income for their parameters.

Obviously plenty of equity ..
needs a heloc that is non fulldoc /income dependant and easy and quick...

let me know if you have any ideas.
thank you

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