We bought a home 6 months ago in Boca, FL
30 year fixed around 2.9 %
Appraised at sale at $1.1m
Did many upgrades including floor and new kitchen.
Six months later.
Why will no one give us a HELOC or consider Refi?
Some say they won't do appraisals and only do HUD purchase price now? Don't even understand this.
Wife and I both have good W2 jobs.
We also own a $1M l+ home in Los Angeles and rent it.
Anyone here who can help us?
Please PM me.
Try Pen Fed FCU or Quorum FCU. Also, TCF Bank & Symmetry Lending. Those are my go to credit unions and banks for HELOC's.
@Mitch Polatin could you elaborate on why you have been denied?
Thanks. We have not been denied.
Just Haven’t found any banks willing to lend this way. Maybe we’re not looking at the right places.
Found Space Coast Credit Union and seems they offer:
Second Mortgage Fixed.