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Updated almost 4 years ago on . Most recent reply

Looking for 1st lien position heloc
Hey there! I’m in NC. My first question, is there a credit union or bank that will payoff my mortgage using a heloc?
Context: I do not have a HELOC now, but I'm interested in having a 1st lien position HELOC instead of the traditional mortgage + 2nd lien position HELOC. My mortgage balance on my primary home is $266k. My house is worth ~$450k. Let's say the LTV is 90%. Are there banks out there that would take the 90% LTV and "payoff" the mortgage, leaving the $266k balance on the heloc and giving it a 1st position lien status.
Is it possible to refinance into a Heloc?
Has anyone ever done this or have a creative way to get to that 1st position status?
Thanks!