Hi there,

Client is asking about a $3 million HELOC. Property is free & clear and worth about $6 million.

Income is Full-doc

Credit is perfect

LTV 50%

Who's doing super HELOCs nowadays? Used to send these to Union Bank & Lehman...thanks

Your client may be better off going with a more stable loan with ING.  5 or 7 year ARMs 50% to $3M.  I would take that over the risk of adjusting HELOC.  They do have IO features.

I am in agrement with an IO Loan - ING has great rates - and a HELOC at that amount will probably have a higher interest rate - however - if your client has a large account with a bank - often their wealth management division is able to offer something competitive -

Thanks for your replies.

Does ING offer a HELOC in the wholesale world?

Borrower is looking at this line in lieu of an existing commercial line he has for his business...so the balance constantly fluctuates, hence the need for a HELOC. Any other thoughts?

I thought they may have at one point.  Google ING wholesale mortgage rates.  No password, username, etc. required.

I have a customer who took out a 10/1 IO on his poperty - he is paying IO fixed - and put the cash into a money market fund - which he uses like a heloc ... kind of. 

State Farm does HELOC's.  It would be worth a call to your Local State Farm Agent.

Jacob Varghese

Well, bad news. ING doesn't offer I/O in California. It doesn't look like they have or have had a HELOC as far back as June 2009... I just left a vm for a local State Farm Rep I know, let's see where that goes. Thanks!

HI David, I might be able to help you? I have Private Banking good rates. Have a few options but one of my Private Banks offers Full DOC and even SIVA

I have unlimited Cash out SIVA up to 40% up to 3 MILLION, 700 + FICO needed and good reseves, 3 yr or 5 yr ARm, can add i/o as well.

Thanks

ERIC

ING's pricing is very competitive - IN EVERY STATE BUT CA!!!  Don't know anyone doing a heloc at this amount, but if it was my deal I would take it straight to Union Bank. 

Hi,

You can try tthe following company

Seattle Funding Group of California
4711 Viewridge Ave., Ste. 270
San Diego, CA 92123
T 858.751.0556

John Taylor, Realtor

If you are unable to secure conventional financing, I can help you.  Athas Capital Group is a private, direct bridge lender located in Southern California.  We specializing in lending on income-producing commercial properties and residential properties in California.  There are a lot of excellent borrowers out there who have great credit and income documentation, but are still unable to get the "banks" to lend for them, particularly these large loans on high-end homes.  Athas Capital Group can help!!!'

Take a look at our website or give me a call if you need private money.

Thank you.

Marc Noddle

Account Executive

Athas Capital Group

877-877-1477

MNoddle@athascapital.com

www.athascapital.com

DAVID,

I CAN HELP YOU OUT HERE, I REPLIED EARLIER ALSO, I CAN EVEN DO FULL DOC OR SIVA TO 50% LTV TO 3 MILLION, PRIVATE BANKING, 4.75% ON A 3 YR ARM WITH NO PPP, BEST RATE AS OF TODAY,

VONEPSLOANS@AOL.COM