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Hello BP, I need some help with structuring a HELOC. It's non owner occupied and owned free and clear. Market value is around 650k. The investor wants only 200k HELOC at 12% with 1 pt upfront and no pre payment penalty after 30 days. I just want to know what the going rates are for private funding on HELOCS's(points, interest etc). Any help on this would be great thanks.

Originally posted by @Andrew Caton :

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Hello BP, I need some help with structuring a HELOC. It's non owner occupied and owned free and clear. Market value is around 650k. The investor wants only 200k HELOC at 12% with 1 pt upfront and no pre payment penalty after 30 days. I just want to know what the going rates are for private funding on HELOCS's(points, interest etc). Any help on this would be great thanks.

You sure that's a HELOC that you can draw on, pay down, draw on again, etc? That looks like <30% LTV hard money..,

Yes exactly. He can pay down and draw on again. Not hard money loan. It sounds like hard money. I'm trying to figure out why he wouldn't just want a hard money loan instead of HELOC. He can go to any small bank or credit union and get a better rate