All Forum Posts by: Russell M.
Russell M. has started 2 posts and replied 4 times.
Post: Are these HELOC terms good or bad
- Posts 4
- Votes 0
Nick, I would appreciate that. The credit unions I've spoke with so far will open a line of credit for 80% of the equity. I believe this company I'm speaking with right now said that they give free Re-fi after this transaction. I'm going to get more details this week.
Post: Are these HELOC terms good or bad
- Posts 4
- Votes 0
I think it's a higher closing cost because they are allowing me to use 95% equity. So 8k for a 220k line of credit. I will check out velocity as well. Thanks for your input.
Post: Are these HELOC terms good or bad
- Posts 4
- Votes 0
Hello I'm shopping for a Heloc. Today I spoke with someone from a company called Lower. I wanted to see what you guys thought of their terms.
95% Equity on my primary
10 Yr Draw period
20 Yr Repayment period
Rate based off of wall street prime
close is 4-6 weeks
$8k (Estimated on the high end) closing costs tacked onto the back end of mortgage.
Take over the 1st lien position
Post: Hard money or cash out re-fi on primary residence
- Posts 4
- Votes 0
I have 130,000 equity in my primary residence. I want to invest using the BRRRR method. Should I use a hard money loan, or cash out re-fi on my primary residence? Any other options are welcome. Thanks for your time.