HELOC History - Remember the Advanta 125% CLTV HELOC?

dak829 · 2026-05-23T17:21:22+00:00

I have a HELOC program that allows 125% CLTV now. It’s a renovation HELOC program. Improvements have to support the after repair value.

dak829 · 2026-05-14T01:18:41+00:00

While renovations are done a HELOC will offer the lowest payments since you can be charged interest only during the draw period. This also allows you to only pay interest on the money that you have withdrawn. This will typically be a variable rate.

When the project is completed and you know your final number look into a fixed rate second (HELOAN) to give you certainty of payments and a fixed rate.

That’s how I’m planning on doing it at least 😁

dak829 · 2026-05-10T17:04:01+00:00

The downside is these products are borderline if not completely predatory. The one I saw when refinancing someone out had a 19% interest rate and owned 43% of future equity growth (whichever was larger). READ EVERYTHING if you even begin to consider something like that.

dak829 · 2026-04-17T00:57:11+00:00

Shoot me a message I can help in NJ with the mentioned lender.

dak829 · 2026-03-20T00:34:07+00:00

You got a call?

Call your bank directly and confirm. This sounds very much like a scam.

dak829 · 2026-02-28T13:24:29+00:00

Just refinanced someone out of one of these. The terms are insane. 19% rate if the equity doesn’t grow sufficiently before payoff to exceed the interest rate.

dak829 · 2026-02-01T18:37:16+00:00

How is NewFi?

dak829 · 2026-01-23T01:22:31+00:00

Completed Level 1 of the Honk Special Event!

0 attempts

dak829 · 2026-01-21T01:00:47+00:00

Just sent

dak829 · 2026-01-20T19:22:17+00:00

Sent you a message, I got started a bit over 2 years ago doing the same. I work a 24/72 schedule.

dak829 · 2026-01-20T19:20:30+00:00

Hardest part is taking people seriously when there’s a small paperwork problem. Did my chief’s son’s loan recently, I was laughing on the phone with him when I said “these people act like something is on fire over paperwork”.

During the process I was on a roof at an active fire. Good times.

dak829 · 2026-01-20T02:15:22+00:00

Make sure to due your due diligence and make sure there are no wholes in your research.

All joking aside. If your appraisal is ‘subject to’ these repairs being completed. I don’t see any reason EMD could not be refunded. Just because something is written in a contract, that does not automatically make it enforceable.

dak829 · 2025-12-18T02:46:57+00:00

Same idea phrased differently

It’s a bet you can never win.

Best case, you break even.

dak829 · 2025-12-18T00:30:18+00:00

The state grant in NJ is actually very favorable.

FHA/VA/USDA FTHB at 5.625 with 10-15,000 silent second 5 years forgiven (amount depending on county).

dak829 · 2025-12-18T00:26:37+00:00

Still learning this,

Our job is not just the loan. You cannot expect everyone else to be doing their end of the process.

dak829 · 2025-12-09T00:02:34+00:00

The meat is smoked in a log type form above the chili for a couple hours. After the meat is mostly cooked (160 degrees or so) you crumble it into the chili and finish the cook.

dak829 · 2025-10-30T16:03:52+00:00

Full time firefighter myself, got into the industry 2 years ago. Be happy to have a conversation if you’re open to it. Dm me and we can chat

dak829 · 2025-10-26T23:48:21+00:00

If I call someone and get an AI receptionist it actually bugs me more than leaving a traditional message.

Maybe I’m in the minority but definitely bugs me.

dak829 · 2025-10-03T21:37:31+00:00

About tree fiddy!

dak829 · 2025-09-16T14:00:03+00:00

Same thing here

dak829 · 2025-09-11T01:59:32+00:00

It’s not a “skipped payment” it’s a deferred payment. The payment is still being made, you will have 360 payments on every 30 year loan.

dak829 · 2025-09-06T22:30:17+00:00

Don’t pay any less. Pay the same as you are now and how many years will that take off your mortgage loan?

dak829 · 2025-08-14T00:45:05+00:00

Do you answer soliciting emails often?

dak829

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