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.
Creative Real Estate Financing
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 2 years ago on . Most recent reply

User Stats

28
Posts
12
Votes
Adam A.
  • Real Estate Broker
  • Marietta, GA
12
Votes |
28
Posts

Investment HELOC - Term Comparison

Adam A.
  • Real Estate Broker
  • Marietta, GA
Posted

After an exhaustive search I finally found two lenders that offer 1st position HELOC's on investment property. Trying to decide which one I should go with. In a nut shell it's 208K at in my opinion is a decently attractive rate for NOO, or take a 2% higher rate to have access to an additional 50K. If you know of any lenders that do HELOC's on investment property in Georgia I'd certainly welcome a recommendation.

Lender #1

65% LTV ( Prime -.17) = 7.33% Variable APR with loan limit of $208,000

$65 annual fee starting in year two 

No closing costs, Max termination fee $300 within 3 years

Lender #2

70.00% LTV (Prime + 1.25%) = 8.75% Variable APR with a Limit of $224,000
75.00% LTV (Prime + 1.50%) = 9.00% Variable APR with a Limit of $240,000
78.13% LTV (Prime + 1.625%) = 9.125% Variable APR with a Limit of $250,000
80.00% LTV (Prime + 1.75%) = 9.25% Variable APR with a Limit of $256,000

$100 annual fee starting in year two

No closing costs, need to repay closing costs if closed within 2 years 

Most Popular Reply

User Stats

40
Posts
18
Votes
Joseph Brown
  • Investor
  • Charlotte, NC
18
Votes |
40
Posts
Joseph Brown
  • Investor
  • Charlotte, NC
Replied

Do you mind sharing the names of the lenders. I’m looking to do the same thanks 

Loading replies...