HELOC's

[shortdesertguy]

Does anyone have recommendations on the "best" HELOC for a rental property located in CA? Penfed?

 

[l8_apex]

I'd scour the internet as there will most likely be a local bank/CU with a better deal. I left CA 10 years ago, but back then had a HELOC with Meriwest. No idea if they're the best place today.

 

[HawkeyeNFO]

PenFed has really become a third rate credit union in the past 7 or 8 years. They used to be one of the best, but I don't recommend them for anything these days. Their employees are either poorly trained or incompetent, and their rates are easy to beat.

 

[braumeister]

PenFed has really become a third rate credit union in the past 7 or 8 years. They used to be one of the best, but I don't recommend them for anything these days. Their employees are either poorly trained or incompetent, and their rates are easy to beat.

Unfortunately, I have to agree. I used to be a big fan, but my last mortgage was with them and it was an absolute nightmare to deal with them. Never again.

 

[jazz4cash]

Need more info on what’s important to you OP. With rates trending up the margin and caps are more significant for a HELOC. A fixed HEL might be better in this environment if it would meet your needs.

Third Federal Savings HELOC has worked well for us. I don’t know if they make loans in CA.

 

[Irishgirlyc58]

Local credit union is where I would start.

 

[SnowballCamper]

Local credit union is where I would start.

Yup. I recently opened one up with zero up front costs (in WA). The only fee is for reconveyance when it is paid off.