Home Equity Loan Recommendations
I'm acting as a project manager for my parents house they are selling, using it as my first experience fixing and flipping. I don't want to buy the house from them in order to avoid paying capital gains tax when I sell it, so I can't also get financing for the rennovation costs as well.
There only option it seems is to take out a home equity loan (not line of credit), or possibly refinance if its easier.
So, I am going to recommend a home equity loan and I want to call a few places to see what the scoop is. I'm sure there are literally probably 1000 options in the USA, where I live in TN. Can I anticipate a big difference in rates or value between all these different banks and companies, or will the difference be trivial where I'm fighting for half a point interest rate percentage or what not?
I want to call 5 different places and see whats up, starting with my bank and the bank they use. Any overall recommendations for trustworthy places to try or anything else you think I should be aware of?
Cheers