Home Equity LOC Questions

4 Replies

Hello fellow BP members,

I am currently in the market for a multi-family in the Greater Philadelphia Area to live in and rent out the remaining locations. With that, my realtor advised me to take a different house I own in Nebraska and put a HELOC on it since I have a good amount of equity in it. I have heard quite a bit about HELOCs lately and think this may be a great route in case an opportunity presents itself and I have to react quickly. Does anyone have any references for mortgage brokers for Nebraska that could help me with this?

Thank you and happy hunting!

Norm

Message me and I can send you a list of the banks we work with for helocs

I used this exact strategy and it works great, low interest rates and flexibility. I invest in Central Nebraska, have lots of great community banks but found the US Bank HELOC was by far the best. Low intro rate, then low variable rate, best online tools, debit card and check writing made easy. Good Luck!

Check with the bank you have your mortgage with. Sometimes they will give you a lower rate if you open a HELOC with the same bank.

Join the Largest Real Estate Investing Community

Basic membership is free, forever.