I've got a client in College Station looking for a HELOC (or any other option for a renovation). I know they're not easy to get right now, and he doesn't like the current quote he has along with it being adjustable. Obviously, I can't give financial advice, so here I am. Feel free to respond or PM. TIA

Depending on their financial strength, a community bank may be willing to lend 80% or so on the loan to cost of the purchase plus renovation. It would just have to have the renovations included in an "as-completed" appraisal.

Amegy is solid

Amegy next promotional rate should be in the coming months. Would set up a dialogue and tell them to let you know when the promotion starts.

I have a HELOC through Amegy via jja79 just before he retired. Great process.

I did see that some folks are trying to get ahead of the refi boom and are offering HELOC's with teaser rates as low as 1.99% already:

https://www.firstnewyork.org/borrow/heloc/

Edit: I called and they don't do loans in Texas but I bet there are more out there that do

jja79 said:

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Retired from Amegy recently. Called this morning and they may have an October promotion coming. Send me a PM if you want someone to call.

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I've talked to jja79 about doing a HELOC. OP and anyone else, make this your first call.

When I was considering it over the summer, the terms were pretty decent. Will be interested to see the terms this fall.

What about a closed end second lien?

2nd lien fixed rate equity products exist for primary, secondary and investment properties. Caveat, I'm now a retired full time golfer but they did when i exited 2 and a half months ago.

Piggybacking off this thread. Anyone know of a good 1st year introductory rate for a HELOC?

Piggybacking to this post to see if anyone has done a heloc lately ?

Following

Check here for a general market price. I'm not referring you but have done business with them a long time. They are verifiable.

https://www.certifiedfunding.net/texas

Seems 7-7.5 is a starter price.