All Forum Posts by: Kwok Wong

Hey @Kwok Wong, Are you trying to get a HELOC on your primary residence to purchase an investment property? Or are you trying to find a HELOC on your first investment property? If you're looking for a HELOC on your primary, usually local credit unions have the best rates. It's harder to find a HELOC on an investment property, but it is possible. I saw a list that someone posted on here at one point of all the lenders that do HELOCs for investment properties, I will try to find it and send to you.

Generally speaking the interest rate you decide on is going to depend on your bigger picture plan for the property. Are you going to hold it for 20+ years? Or do you plan to sell or refi and take cash out in the next few years? Rates are high right now so utilizing an ARM can be helpful to maintain cash-flow...

I would pay more attention to the questions they ask you rather than what you ask them. A good lender will take your entire plan/financial picture into account to make sure you're on the path you want. Many lenders will just try to sell you whatever you qualify for, rather than truly advising you.