Looking for local bank recommendations in Wilmington DE

[Gage Green]

Is there any bank suggestions/recommendations in the Wilmington area that are happy to do a HELOC. My main bank didn't use good comps in my area or any on my street including the one a few houses down that sold in march, and ended up denying my HELOC due to value, and wouldn't respond to my question on why they didn't use houses that compare to my house closer than what they used. I'm looking for a way to gain access to the equity in my home to help me get my first BRRRR going.

[Kerry Baird]

Hopefully you have your credit score.  Go through the small community banks and credit unions in your local area.  Call and ask, "With my fico of ZZZ what rates and terms can you offer me?" No need to have every lender pull your credit and make your score drop.

Make a chart.  HELOCs are all over the place, as they aren't regulated the same as traditional mortgages. 

Some use an appraiser who will do an indepth process, look inside and out, run comps etc. while many others use Desktop Underwriting and don't see the inside.  They get a value somewhat like Zillow or Realtor values...there is a big spread between values done this way.  Some are interest only for a decade, some with do longer, while others are not interest only.  Rates make be fixed for some time or may fluctuate from the start. 

Pick what works for you.