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Home Equity Loan of Line of Credit on Rental Properties in AZ

I have 3 rental properties in AZ that are completely paid off. I need to either get a line of credit or another loan against these properties. What are my options and what are the rates. Do you still offer no fees for these lines of credit, and if not, how much are the fees. Thanks! by suerik_671_414 from Media, Pennsylvania. Apr 25th 2012 Reply


John Barbato (blueelephant)
#1 ranked lender in Delaware - 26 contributions

Please call me to discuss some additional details. I'll be happy to help you our and/or point you in the right direction.Thanks800-333-3004 x3130

Apr 25th 2012
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Susan Roach (AllenRockFinancial)
#40 ranked lender in Pennsylvania - 2 contributions

Thanks for your question. Rates to refinance vary daily. Last week I quoted 2.8%, but today I see rates as low as 2.5%, but most are over 3% - 4%. Your final rate will depend on your credit and condition of the property. I charge 1 point for all services. If you have a friendly banker in Pennsylvania or Arizona, you should be able to receive a line of credit with no fees from your bank.Thanks,Susan RoachAllen Rock Financial717-884-4630susannaroach@msn.com

Apr 25th 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Lines of credit are being offered, and the fee's can be absorbed. But any loan officer quoting rates on an internet post obviously doesn't know what he's doing.. (It's illegal to quote a rate without quoting the APR)... and you should not fall for this bait and switch crap!! The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. You should only settle for a WRITTEN quote, and from a reputable brokerage. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 25th 2012
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