HELOC Suggestions Local vs Online

[Jake Kain]

Hello BP!

I am currently trying to obtain a HELOC on my primary residence. Most likely we will be using it to do some rehab on the house prior to selling it (if that plan sticks). In general just want to have access to some equity if needed. I was going through a local credit union but have decided to pull the plug. I have my car financed through them and they had great introductory offer and standard rates. They also did not charge any appraisal or other associated fees. My parents have used them for years and just recently got a HELOC through them. Since my auto loan was originated by the dealership, I was in a loophole system that I did not have to be a member of the credit union to have the loan. For the HELOC, I needed to open a checking and savings to become a member. The experience of dealing with them over the past week has been very disappointing and I will be taking everything elsewhere (yes, even the car).

Aside from that, where do you guys find the best HELOCs? Do you stick with local CU (Phoenix and Arizona specific) or have more success with online applications or big name banks? Any suggestions greatly appreciated.

I know this has probably been asked, but after a quick skim of the first few pages I did not see anything related. I am also unsure of a search function, I could have swore there used to be a forum search bar?

Thank you!!

[Michael Hacker]

I believe Credit Union West has very high loan to value HELOCs, so they would be worth checking out.  My recommendation would be Arizona Bank & Trust.  They have good rates, very professional and easy to work with.