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HELOC question

Profile picture for ProspectMill
I'm looking to get a home equity line of credit for approximately $15,000 for some needed renovations and then paying it off after selling the home. I plan to have the home on the market in 9-10 months. Is it possible to get a heloc without paying closing costs or a prepayment penalty?
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1Yes

December 07 2011 - Bel Air North
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Answers (2)

Profile picture for marylandmortgagemama
You may want to check with a local bank or credit union.  Since they can do your loan as a portfolio loan (they hold it), they have easier guidelines and less  paperwork. 

Essex Bank in Catonsville may be able to help
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December 15 2011
Profile picture for Georgia Loans
It will be hard to find a no closing cost Heloc that does not charge a fee if the line is closed before 36 months. That charge is typically around $800.
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December 07 2011
 

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