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Hello Investors,

What are the current terms and rates you see for HELOC on primary residence ?

I checked a few lenders, and the best one so far are the following: 

- 3.99% 

- The loan is free of cost. The only fee  is a standard annual fee which is $49

- 10 year revolving period with a 15 year amortization period.

- 2 weeks period to approve and fund HELOC account.

- 80% LTV

Please let me know what do you see around and if you have a lender which you will recomend.



We maintain a $100K HELOC at our local credit union, secured by our primary residence. The annual fee is $25. Our terms are 3.25% (adjustable, but it has stayed at the same rate since we opened it over 10 years ago). We can borrow on it, at will, for any reason. When we draw on it, we pay interest only. We use it for short-term needs only.

In March of this year we pulled $100K from our HELOC to make an all cash purchase on a SFR. After we finish the rehab, we will seek financing on the ARV of the property, probably via a conventional loan. Then we will pay off the loan from the HELOC. Rinse and repeat.

My husband and I use Helocs as well. TD Bank offers them, as do credit unions. Terms are mostly similar, although found TD Bank to have the lowest up front cost - $99 application fee and a $50 annual fee. 

My company in Orange, CA doesn't do HELOC other than reverse mortgage HECM which only seniors qualify for. If you are interested in a cash-out refi we can do that for you.

We have a $100k HELOC via Citizens Bank in the Midwest at 3.25% variable (but it's never changed) with $50 annual fee, interest only. We used $60k two years ago as down payment on 18 apartments, are paying it back from cash flow.over 5 years.