All Forum Posts by: John Cato

I have seen a few of my borrowers electing to use their HELOCs as a down payment for investment properties. However, it all comes down to your personal situation. If ratios are tighter, it may impact your qualification once that additional payment is factored in for the HELOC. If that's not a concern, and you'd rather save your personal funds for the work to be done to the property, a HELOC can be a good route. That all being said, the HELOCs I have seen them pull from tend to still have very competitive rates for them to borrow against, which is why they have taken that route.

@Devin Ryan That makes sense! Thanks a lot for the helpful response!

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Tampa, Florida

Quote from @David Garcia:

Quote from @John Cato:

@David Garcia Fyi, I recently applied for a Heloc with Figure and they said they are currently not offering helocs as an option in my area(Tampa)>

@John Cato - Good to know, how long ago did you apply?

@David Garcia I applied earlier this week.

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Tampa, Florida

@David Garcia Fyi, I recently applied for a Heloc with Figure and they said they are currently not offering helocs as an option in my area(Tampa)>

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Tampa, Florida

Hey everyone! I'm starting the process of looking for my first investment property in the Tampa Bay area. Due to the increase of interest rates currently, do you all see HELOCs as a good option for a downpayment on an investment property? Also, do you all have any recommendations on heloc options in the area? Thanks in Advance!!

0 Votes

Tampa, Florida

All Forum Posts by: John Cato

John Cato has started 1 posts and replied 4 times.

Post: First Post! Heloc Options for a beginner.

Post: Looking at opening a HELOC on my primary

Post: Looking at opening a HELOC on my primary

Post: First Post! Heloc Options for a beginner.