All Forum Posts by: Russell M.

Nick, I would appreciate that. The credit unions I've spoke with so far will open a line of credit for 80% of the equity. I believe this company I'm speaking with right now said that they give free Re-fi after this transaction. I'm going to get more details this week.  

I think it's a higher closing cost because they are allowing me to use 95% equity. So 8k for a 220k line of credit. I will check out velocity as well. Thanks for your input. 

Hello I'm shopping for a Heloc. Today I spoke with someone from a company called Lower. I wanted to see what you guys thought of their terms. 

95% Equity on my primary

10 Yr Draw period

20 Yr Repayment period

Rate based off of wall street prime

close is 4-6 weeks

$8k (Estimated on the high end) closing costs tacked onto the back end of mortgage. 

Take over the 1st lien position

I have 130,000 equity in my primary residence. I want to invest using the BRRRR method. Should I use a hard money loan, or cash out re-fi on my primary residence? Any other options are welcome. Thanks for your time.