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Updated over 3 years ago on . Most recent reply

User Stats

36
Posts
17
Votes
Dorian Weber
  • Real Estate Agent
  • Wellington, FL
17
Votes |
36
Posts

HELOC came back less than expected - now what?

Dorian Weber
  • Real Estate Agent
  • Wellington, FL
Posted

Numbers

House appraised for $350k

Owe $150k

HELOC based off of credit (740), appraisal of house (350K), No credit card debt only a car payment ($350 a month) and house payment ($1600 a month)

$33k

I changed industries on my W2 from pharma sales to software sales so they can only take my base (im going to make between W2 and RE 170-220k this year, last year it was 140k)

Any other options other then a cash out refinance as was hoping to get a 100k HELOC for flipping

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