HeLOC Question

[David Roberts]

My girlfriend and I bought a home in 2010. We now have at least 100k equity in it. My girlfriend has the mortgage in her name and I was quit claim deeded to the house. Can I get a HELOC on this house? I assume I can since I'm on the deed, and maybe she would just have to sign off on it?

And, how long does it take to get a HELOC closed and funds in hand from application to close?

[Jeff S.]

Went to a credit Union recently and got a no doc Heloc approved in 24 hours and ready to fund within a week.

Regular lenders just like a regular mortgage 4-6 weeks. Strongly suggest you try the credit union or at least inquire. One drawback though is the credit union wants 1.5% minimum payment although that can be adjusted by asking (or so I was told).