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Updated 11 days ago on . Most recent reply

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58
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Joe C.
  • New to Real Estate
  • New England
8
Votes |
58
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Help with a HELOC

Joe C.
  • New to Real Estate
  • New England
Posted

I want to pull some money out of my properties to purchase an investment home. Who can I turn to for a good rate? My credit score is around 700. I spoke to TD Bank, but I have 3 loans with them and I do not want to do a 4th one with them. Thanks for your help. 

Most Popular Reply

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925
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731
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Patrick Roberts
#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Charleston, SC
731
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925
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Patrick Roberts
#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Charleston, SC
Replied

For 2nd liens, the best lender is typically the one that holds the 1st lien. That being said, I agree with @Nicholas L., if this will be for a long term use of the funds, any 2nd lien is likely to be too expensive to make sense. 

If youre deadset on this, expect rates to be north of 10% on 2nd liens on investment properties. 

  • Patrick Roberts
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Patrick Roberts - MLO - Assurance Financial
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