Best place to look for a HELOC in Broward County, Florida

[Janis Buongermino]

Hello everyone, I am a newbie and so excited to be here on this site!!!

I am in my 2nd Condo, rehabbed the first, lived there a long time and did well on resale several years ago, now I live in a condo and I will be applying for a HELOC in Broward County, FL.

I would like to find investments to flip or hold and rent, out of state is fine too. Would love to find the cheaper homes and do so rehabbing.

Thank you!!

[Dan Weber]

@Janis Buongermino I would create a spreadsheet with a list of at least a dozen banks/credit unions/mortgage lenders in your area. In the columns next to the name of the institution, do one column for max LTV, another column for interest rate, another column for closing costs and another column for random notes. Some questions to ask are:

-Max LTV?

-Interest rate on HELOC?

-Who pays for closing costs? Sometimes the bank will pay for these.

-For anyone with a high LTV, ask if there are any stipulations attached to their HELOC. Some lenders may want the entire loan to be held with them or some other weird conditions.