HELOC Loan in Boise Idaho

[George Aston]

I'm a new real estate investor and I'm looking to get a HELOC to purchase real estate and/or to pay down my mortgage faster. Does anybody have recommendations on which banks to talk to? I'm in the Boise, Idaho area. We have an excellent credit score (820+) and have about 250k equity in our home. Thanks!

[Greg Betts]

I've been through the same search, my words of advice are...

1. Look for the bank with the lowest maintenance fees and minimal years the account has to be open 

2. Make sure the bank will loan you the most for your equity position, aim for 80/20.
3. Before you sign the paperwork for the HELOC commit to using the line of credit and know your terms. Once you use the money to fund a project you'll want to know what fees you might be paying when you write a check.

DM if you have questions. Best of luck

Check with Brett at Bank of the West Maple Grove/Executive area