All Forum Posts by: Melvin Montano
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Post: Reliable Local Banks (For A HELOC)
Melvin Montano
Posted
Pro Member
- Rental Property Investor
- Sacramento, CA
- Posts 1
- Votes 1
I just got off the phone with Bank of America and they are offering horrible HELOC conditions. Does anyone have a bank in/near Sacramento they go to for financing? I'm seeking to get a HELOC so I can begin my real estate journey and buy my 1st rental property. Thank you in advance!
My Current Home/Equity:
-I owe approximately $139k
-House worth $390k - $415k
-I earn $57k (Special Education Teacher)
What BoA offered me:
-$135k HELOC
-8.006% fixed for 10 years
-Payments of $800 if I pull $70k