HELOC with no W2 or in person appraisal

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HELOC with no W2 or in person appraisal

John Tames
Los Angeles, CA · Member since 2017 · 1 post · 0 votes

I just completed a 80K HELOC with a local credit union. They gave me a great rate and the only document they ever requested was a copy of my lastest paystub. Their was no actual appraisal, only an AVM. Are these type of little to no doc products getting more common again?

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Antoine Martel
Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
8y

These little to no document products are not common at all.

I wish they were, that would make my life doing cash out refinances a whole lot easier. 

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  • Antoine Martel
    Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
    8y

    These little to no document products are not common at all.

    I wish they were, that would make my life doing cash out refinances a whole lot easier. 

    1Reply
  • Dan Silverstone
    Mission Viejo, CA · Member since 2017 · 5 posts · 0 votes
    8y

    I'm looking for cash out refi money (maybe private) for several SFR rentals in cleveland OH. Each worth ~$40-50k. Based on rental income would be great since I'm self employed so minimal documentation is best for me.

    Any ideas?

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  • Westlake John
    Brooklyn · Member since 2018 · 25 posts · 2 votes
    7y

    John Tames which credit union was it?

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  • Fabiola SandersPro Member
    Rental Property Investor · Member since 2019 · 16 posts · 5 votes
    1y

    @Westlake John

    Hi Westlake, did you learn which credit union was it? Did it work for you? I am in NYC as well looking to get a heloc on my primary residence.

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