HELOC stratergy


@sanfax I have taken a HELOC loan on one of my homes to use as a down payment to buy another home. In order to keep my debt payments low, I went for an interest-only HELOC. Check out https://www.penfed.org/explore-home-equity/

I am not good in stocks, but would take a HELOC and buy a rental in Mountain View / Cupertino to rent it out to Google/Apple folks.

@BAGB Penfed also provides loans on rental or non-owner occupied homes.

@manch I approached First Republic Bank after hearing about 1% interest rate to Mark Zuckerberg. A banker not familiar with mortgage gave the marketing spiel on how First Republic Bank looks at all your finances to give the rate and wanted to meet me in person. Total waste of time… their interest rate was the highest… I did not have millions in FB stock money…



Do you need to be associated with the military to get a loan from Penfed?


Nope someone can refer u. I think I still have an account.


How can we get the home appraised for free? Any bank out there that does it?


Penfed does not allow rental Heloc if you have more than 2 properties.

For smaller Heloc, appraisal can be waived


For HELOC, TechCu or Starone or Meriwest do not charge any fee, but need to keep that account for 3 years. You can check with them for first mortgage, they may provide some cash back during closing. Almost all credit unions are generously giving cash back during closing better than other big banks. They provide all these services for primary home only.


Penfed allows you to contribute a one time small amount like 25 or 50$ to an armed forces cause and become a member.


WOW! Did not know that!! Is there any “Army for Impeaching Trump” charitable fund I can contribute? :smile:


I have HELOC from Meriwest. Their appraisal is very conservative. About 10-15% discount from true market value.


Meriwest Heloc is only for primary home. Is the Heloc underwriting more relaxed than first mortgage? I heard that credit unions are very slow and very strict in underwriting



Great! Thanks @druid!


My Tracie suggested US Bank. 3.6%


I tried FRB once, they are not better than any other bank. They play by the same rules applied by other banks. Somehow, FRB did not work out for me.

I think it all depends on the contacts we have. I used to contact prospect mortgage for any type of loans, but my contact has moved to wellsfargo.

Some private mortgage bankers like Prospect or RPM-MTG are easy to get loan, but little pricey.

So far, the lowest I ever had was with northpointe bank and they prefer primary mortgage only. feel free to send him email or contact him over phone (He is in EST zone). I do not think they waive appraisal fee, but cash back for closing cost may be provided. The rates are better than WFC or BAC…etc

Tim Tusing
Internet Loan Officer, NMLS# 730107
P: 616-974-8487 | F: 616-726-2587


Check Stanford Credit Union. May charge fees but % lower


I know the people who can help you. Easy peachy.


It is hard to get back to USA, legally, review here




I am telling you Jil, you need to know the right people. I know we can criticize Trump for not paying taxes, but those loopholes are in there to be exploited.

I was present when this guy, knowing all these loopholes, made this guy from paying $600K in taxes to end up paying $36K.

It is not unusual to see people bringing in lots of $ into the US. You need to know how to use the proper channels.

I can get anybody here to meet this guy, lots of knowledge in the taxing and tax loopholes world. You just need to be positive, and no, no illegal things, all legal, in the books, contractual things.


Thats great, can you share his contact?



How do I send private messages?