Heloc loan will only give me 20k I need 15k more any advice ?

Question

I need help my bank will only give me 20k for equity on my house I need 15 more what can I do

Kerry Baird · Answer

Maybe one of these will be of help?

Ridge Lending All in One, first position HELOC (pre-covid...check in with them)

AFCU does 80% LTV on NOO. Utah

Americafirst 80% LTV on noo 65% LTV Utah

Arvest Bank AR, OK, AL, MO

Bank of West (BNP Paribas) 60% LTV ELOCs

BB&T will loan on a rental portfolio

BBVA Compass

Bellwether NH and MA 85% to 100%, draw 10 yrs

Boeing employee credit union

California: Cal Coast Credit Union and Fremont Bank

Citizens Bank -Minnesota, only in-state. Kyle Potswald

Citizens first position HELOC

CMG a financial 70% LTV

East West Bank, up to 60% LTV with "no docs”

Figure 80% on a rental, not in LLC

FirstBank CO a and AZ 75% LTV

First Florida Credit Union https://firstflorida.cumortgag...

First Commonwealth

First Midwest, up to 90% Chicago area

First Republic - California

Fulton Bank

GFA Federal Credit Union 10 yr draw, 10 yr repay, MA

Granite State CU, NH 90-100%

Great Lakes Credit Union

Veritex , Texas HELOC

HSBC 70%, for premier clients only

Huntington 75% LTV 5 yr IO product available

Hurst Lending and Insurance Investment property HELOC in Texas. No seasoning.

Key Bank, FLorida flexible lender, HELOCs on second

homes and rental properties. 90% LTV on primary.

Mountain America Credit Union in Utah, 85% LTV, promo rate of 1.99%

Merchants Bank MN See Pavel Ushakov

PenFed - max 3 other properties, 89% LTV

Quorum Federal Credit Union 80% equity, owned by LLC is OK.  5 year interest only payments. New York State. Tiffany Mazzoccoli.

Regions- yes HELOC but no LOC

SCCU Florida 70% LTV, 6.25% interest only, not LLC

Signature Federal Credit Union 75% LTV

Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”

S&T Pennsylvania

TCF Bank

TD Bank

TIAA Direct was EverBank

Trustco

Union Bank, specializes in noo HELOC. KCMO, NE

Union Bank, MUFG.

Upstate Bank in Rochester NY

US Bank

Vectra Bank - Colo

Workers Credit Union, MA 80-100%

WSFS...up to 70% on rental

Kerry Baird · Answer

@Victor Moreno, Good on you.  I ended up calling every single lender I could find in my county, and made a big list of HELOC lenders, and those friendly to investors. I had pulled my own credit at MyFico, and when I called I asked for the mortgage lending department.  "Given my Fico of zzz what interest rate, and terms do you offer?"  It was a lot of work, but fruitful.

Today I found an insurance company that had a "low mortgage rate" sign out front, and pulled over to call them. I haven't thought of insurance companies, so I was curious. They keep their loans on their own books, which means that they don't sell them on and can make their own rules.  That will help me with my next financing.

Preston Garcia · Answer

Try asking friends and family members for the remainder and let them know you’ll have a contract to pay them back and interest on it too.

Samantha Ferguson · Answer

Checks and then just cash it to your account & use the funds to invest?

Victor Moreno · Answer

@Kerry Baird yes the county just did a drive by appraisal which came to 110k but I know my house is worth around 140k so I called bank after bank after bank and all used the county appraisal but I found one that is willing to bring an appraiser to come and look at the house from the inside hoping I get a good and higher one

Nick G. · Answer

@Victor Moreno look into credit cards that offer 0% intro balance transfer checks, AFTER you close the heloc.

Kerry Baird · Answer

Did they do a drive by appraisal, and do you have remodel completed inside?  You can ask for an interior appraisal.  That might give a higher value for your property.

What do you need the extra funds for?

Heloc loan will only give me 20k I need 15k more any advice ?

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