Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
2y
I am not licensed for consumer loans in ID (I can do investor stuff all day long, but not consumer in ID), so I can provide impartial advice. Where I'm based in FL, I get HELOC requests all the time, but I tell them to start with a local community bank (over a big bank or broker like me). They tend to focus primarily on self-employed, operating businesses, so their understanding of self-employed borrowers will tend to be better. Their HELOC rates (not other rates...just HELOCs) will beat what I can do as a broker as well. I tell borrowers if they try and are unsuccessful, to give me a call, but I always have them start with a local, small, community bank. Good luck to you.
I am not licensed for consumer loans in ID (I can do investor stuff all day long, but not consumer in ID), so I can provide impartial advice. Where I'm based in FL, I get HELOC requests all the time, but I tell them to start with a local community bank (over a big bank or broker like me). They tend to focus primarily on self-employed, operating businesses, so their understanding of self-employed borrowers will tend to be better. Their HELOC rates (not other rates...just HELOCs) will beat what I can do as a broker as well. I tell borrowers if they try and are unsuccessful, to give me a call, but I always have them start with a local, small, community bank. Good luck to you.
I am not licensed for consumer loans in ID (I can do investor stuff all day long, but not consumer in ID), so I can provide impartial advice. Where I'm based in FL, I get HELOC requests all the time, but I tell them to start with a local community bank (over a big bank or broker like me). They tend to focus primarily on self-employed, operating businesses, so their understanding of self-employed borrowers will tend to be better. Their HELOC rates (not other rates...just HELOCs) will beat what I can do as a broker as well. I tell borrowers if they try and are unsuccessful, to give me a call, but I always have them start with a local, small, community bank. Good luck to you.