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Recommendations on Bank/CU for HELOC
Posted on 3/3/22 at 10:37 am
Posted on 3/3/22 at 10:37 am
Has anyone shopped around lately? Spoke with First Horizon/Iberia and they are offering:
80% LTV
No origination/appraisal fees
1st year @2.99
Prepayment penalty is 24 mos the less of $400 or 2% borrowed
$50 Annual Fee
Anyone else hearing of a better product or any other recommendations for who to call?
80% LTV
No origination/appraisal fees
1st year @2.99
Prepayment penalty is 24 mos the less of $400 or 2% borrowed
$50 Annual Fee
Anyone else hearing of a better product or any other recommendations for who to call?
5
Posted on 3/3/22 at 12:48 pm to Cajundave10
I have 4% through regions.
No points. No prepayment penalty.
No annual fee.
$40k. CLTV was probably around 75% at the time.
Edit to add that the rate would be slightly lower if we had checking or savings with regions.
No points. No prepayment penalty.
No annual fee.
$40k. CLTV was probably around 75% at the time.
Edit to add that the rate would be slightly lower if we had checking or savings with regions.
This post was edited on 3/3/22 at 12:50 pm
Posted on 3/3/22 at 1:21 pm to Cajundave10
Ive heard of slightly better terms through Hancock Whitney from a friend who just signed on with them last week. No annual fee was the primary differentiator
Posted on 3/4/22 at 6:24 am to Cajundave10
Thinking about taking one out on my rental property with no initial draw right away. My challenge will be to find a lender that’ll do a HELOC on an investment property.
Posted on 3/4/22 at 11:16 am to Cajundave10
Try Hancock Whitney. A while back, introductory rate was 1.99%, no upfront fees, no appraisal fees, no annual fees, no "prepayment" penalty after a year. It's a HELINE, not a HELOC. Revolving line of credit rather than amortizing, but you can choose to amortize (lock) a portion.
This post was edited on 3/4/22 at 11:18 am
Posted on 3/6/22 at 2:32 pm to ColoradoAg03
They are out there. Just look around.
Posted on 3/6/22 at 5:50 pm to Cajundave10
quorum bank
They go to 95%
They go to 95%
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