How to find a HELOC lender?
Answer:HELOC lenders may be found online or located through a mortgage broker or your bank may be a HELOC lender, too.
Almost always HELOC lenders will have a website to be contacted on. If you want to get a quote, you are almost always provided with one for free. Also, there are sites where you could compare HELOC quotes for free.
Lenders will differ mainly in the type of documentation they require to extend a HELOC. Some will only be doing full doc HELOCs, others will offer stated income and/or no doc HELOCs.
In times of declining home value, HELOC lenders may be unwilling to do higher LTV HELOCs, refuse credit extension, or downright freeze your HELOC. If you are delinquent on HELOC payments, or your property value has dropped with 50 percent or even more, your HELOC lender may inform you that your HELOC has been discontinued.
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