Hello, I am looking for a bank or credit union that is willing to extend a line of credit based on equity vs income.   I have significant equity in both my primary residence and a couple of my rentals and excellent credit, but my income doesn't satisfy the two year requirements that the larger banks require for HELOCs.

I talked to EastWest bank recently and they have programs like this.   I'm considering them, but they have a fair amount of fees associated with these loans.   I'm wondering who else I should talk to before making my decision.

Specifically, I'm looking for:

• Securing line of credit(s) on my primary and/or rental homes.
• Loan decisions based more on asset/equity value of the properties vs reported income.
• Reasonable loan interest rates (ex: prime + x percent).
• No repayment penalties.
• Prefer to have branch/office nearby the Seattle area.

Any recommendations would be appreciated.

Thanks much, Jim