I’m looking for a bank that offers fixed rate HELOCs. I have around $10k worth of equity in my property and would like to use a small sum to use on another property. What are the best steps to take? by stinson257 from Big Creek, Kentucky. Dec 17th 2021
I don't think anyone issues fixed rate HELOCS, just variable rate, but you might consider a second mortgage using a fixed rate loan. I don't think any lenders allow for a second mortgage to take you up to 100% Combined Loan-To-Value. I don't know of any that will approve higher than 90%. Check with your local Community bank or Credit Union and see what they offer.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300
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