Mondo454_IHB
New member
Hello Everyone!
First time, Long Time here!
I'd like to begin by thanking everyone for a great blog and all the excellent knowledge over the past year and a half!
I'm currently trying to re-fi my home. I have a $35K HELOC that they also own, so subordinating that to re-fi the first shouldn't be a problem. I figured I'd take advantage of the low rates and save a couple hundred bucks a month. But my credit union has notified me that they recently started requiring 70% LTV on their HELOC loans. Huh?? I'm at 75% and they are currently "reviewing" and trying to get approval for my re-fi. Has anyone else ran into this? Should I walk and find another lender? I've been at my Credit Union for almost 20 years, I would hate to pick up and take business elsewhere.
Let me know what you think.
Thanks!
Armando.
First time, Long Time here!
I'd like to begin by thanking everyone for a great blog and all the excellent knowledge over the past year and a half!
I'm currently trying to re-fi my home. I have a $35K HELOC that they also own, so subordinating that to re-fi the first shouldn't be a problem. I figured I'd take advantage of the low rates and save a couple hundred bucks a month. But my credit union has notified me that they recently started requiring 70% LTV on their HELOC loans. Huh?? I'm at 75% and they are currently "reviewing" and trying to get approval for my re-fi. Has anyone else ran into this? Should I walk and find another lender? I've been at my Credit Union for almost 20 years, I would hate to pick up and take business elsewhere.
Let me know what you think.
Thanks!
Armando.
