What do u think of these terms for a HELOC

[Nicholas Weckstein]

Hello all, I’ve been shopping around for a cash out refinance loan. One local bank I spoke with told me they would do a HELOC on an investment property. The terms are as follows 80% LTV 5.29 % fixed rate 15 years 50% DTI No fees and no seasoning period. It’s not exactly what I was looking for but I found It worth looking at. I’m using It for the BRRRR method I was initially looking for a 30 year cash out refinance. I also expected the interest rate to be a bit lower than that. In the 4.5% range. I’m still shopping around but wanted to see what the community thinks as this would be my first Refinance. What else Can I expect ? Thanks

[James Barnhart]

I don't know about New York, but I have a 5% APR HELOC from a local credit union. It is also a 80% LTV ratio.