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Updated almost 3 years ago on . Most recent reply

Melvin Montano's profile image
Melvin Montano's profile image
Melvin Montano
  • Rental Property Investor
  • from Sacramento, CA
  • Member since Aug 4, 2022
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Melvin Montano's profile image
Melvin Montano's profile image
Melvin Montano
  • Rental Property Investor
  • from Sacramento, CA
  • Member since Aug 4, 2022
Connect
Melvin Montano
  • Rental Property Investor
  • Sacramento, CA
1
Votes |
1
Posts
Creative Real Estate Financing

Reliable Local Banks (For A HELOC)

Melvin Montano
  • Rental Property Investor
  • Sacramento, CA
Posted

I just got off the phone with Bank of America and they are offering horrible HELOC conditions. Does anyone have a bank in/near Sacramento they go to for financing? I'm seeking to get a HELOC so I can begin my real estate journey and buy my 1st rental property. Thank you in advance!

My Current Home/Equity:

-I owe approximately $139k

-House worth $390k - $415k

-I earn $57k (Special Education Teacher)

What BoA offered me:

-$135k HELOC

-8.006% fixed for 10 years

-Payments of $800 if I pull $70k

  • Melvin Montano
    • Sacramento, California
    1 Vote
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