Who would you recommend for a HELOC and WHY in Kansas City?

[Zachary Morrell]

Any good references for lenders or banks that can do a HELOC for me on a couple properties in Lenexa KS?

[Milton Chamberlain]

Hi Zach, 

I have a 60 k HELOC w/ bank of the west. Required a checking account with external deposit in it once a month. It was relatively painless. They ran a simple ‘insta-comp," at which point we could borrow I believe 80% of the equity on the property. Rate was about 1.5%-2% over what the typical 30 year rate was at that time. This was initiated around a year ago. to use it, I transfer money from the HELOC to my checking. If I don't use it, there are no charges. Money just sits there. This is my only personal experience with a HELOC. It is on my primary residence.

[Dave Skow]

@Zachary Morrell- most helco lenders only doing loans on primary homes ...I would recommend checking out smaller to mid size credit unions and banks in the Lenexa KS area for rental property HELOC options