Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on . Most recent reply

User Stats

284
Posts
137
Votes
Pat Jackson
  • Rental Property Investor
  • Reno, NV
137
Votes |
284
Posts

Two HELOCs on one house?

Pat Jackson
  • Rental Property Investor
  • Reno, NV
Posted

Apparently I've done this (inadvertently). ~2 years ago I refinanced on my primary residence, and got a HELOC with TCF bank at that time (no balance on this account). Since then my primary has appreciated more, PenFed has a better HELOC, and I applied for one with PenFed. In the initial application, I asked what happened to my TCF HELOC, and was told I could transfer the balance over if there was one, and they would shut down the TCF HELOC in the process.

Today I closed on the PenFed HELOC and asked about the TCF one. I was told, "your credit was good enough, so now you have both. You'll have to contact TCF if you want to close". I'm going to call TCF after work to close the HELOC, but has anyone ever heard of two HELOCs on one house?

  • Pat Jackson
  • Loading replies...