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Updated about 6 years ago on . Most recent reply

Pablo Barrientos's profile image
Pablo Barrientos's profile image
Pablo Barrientos
  • Rental Property Investor
  • from Springfield, NJ
  • Member since Feb 14, 2018
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Pablo Barrientos's profile image
Pablo Barrientos's profile image
Pablo Barrientos
  • Rental Property Investor
  • from Springfield, NJ
  • Member since Feb 14, 2018
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Pablo Barrientos
  • Rental Property Investor
  • Springfield, NJ
10
Votes |
35
Posts
Creative Real Estate Financing

Who has used PenFed for a HELOC?

Pablo Barrientos
  • Rental Property Investor
  • Springfield, NJ
Posted

Hello BiggerPockets, I’m starting to look into HELOCs for my rental property and wanted to see who has used PenFed for funding. I started the process online and it only offered me a 12 year repayment period. Is that the limit? I would like it to be longer . Thanks in advance.

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Chris Hewitt's profile image
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Chris Hewitt
  • from Buckley, WA
  • Member since Aug 6, 2018
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Chris Hewitt's profile image
Chris Hewitt's profile image
Chris Hewitt
  • from Buckley, WA
  • Member since Aug 6, 2018
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Chris Hewitt
  • Buckley, WA
6
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18
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Chris Hewitt
  • Buckley, WA
Replied

I’m signing papers for two HELOCs with them this week. They gave me 10 years interest only and 5 years P&I at 6.25%. Their online portal is pretty poor. Once you get a human on the phone they can fix ya up. 

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