All Forum Posts by: Rosa Alba Perez

@Rosa Alba Perez, as a lender, I've recommended anyone that's looking to obtain a HELOC to go to Space Coast! They offer some of the best terms for 2nd lien type loans.

@Raymond J. Rodrigues I appreciate your advice, yes I was looking into SCCU and their product seems really good. Still would like to compare a couple more products from different sources, though.

0 Votes

Miami, Florida

Quote from @Corby Goade:

HELOCs are all portfolio loans, so you'll find every offering is much different than you'd see with Fannie and Freddie mortgages.

In general, HELOCs are interest only payments and you can lock in a portion of your balance and start amortization if you like. Many banks and CUs will offer them with no closing costs and some even pay for the appraisal.

I'd call a few local and regional banks and credit unions and compare their products and find one that's the best fit for you.

Good luck!

Thank you! That is the best strategy so far, do my task and compare, then shop around and see their offers before commit.

1 Vote

Miami, Florida

Quote from @Ash Hegde:

I was looking into a HELOC for someone recently and the one at Space Coast Credit Union seemed good. There are some Miami locations.

@Ash Hegde, I will review their product for sure! Thanks for the recommendation, and yes I’ve seen some Space Coast Credit Union locations nearby.

1 Vote

Miami, Florida

Quote from @Nathan A.:

What's "best" may vary from person to person. Loans will vary in rate, terms, fees, maximum loan-to-value, credit required, and the like. What would make a loan "best" for you personally?

I would recommend poking around a bank comparison site like Bankrate's HELOC page to learn more about what's out there.

@Nathan A. Thanks for the suggestion, will definitely use that page to compare products. It’s true that every person’s needs are different. I have an excellent credit and my preference would be an approx 80% LTV, fees, terms and rates is what I should compare.

0 Votes

Miami, Florida

Hi, I've been learning for years about REI, have great equity on my home, decided to apply for a HELOC but before wanted to hear some advice about who offers the best product. I've read about BofAmerica as the best one but still doubting. Any advice/ comment? Thanks.

1 Vote

Miami, Florida

All Forum Posts by: Rosa Alba Perez

Rosa Alba Perez has started 1 posts and replied 5 times.

Post: Starting out, learning, any advice on best HELOC product

Post: Starting out, learning, any advice on best HELOC product

Post: Starting out, learning, any advice on best HELOC product

Post: Starting out, learning, any advice on best HELOC product

Post: Starting out, learning, any advice on best HELOC product