I never thought I would be able to pay off my mortgage until I found you. Now kissing debt free on personal debt and looking forward to tackling my mortgage. Thank you so much.
I live in Australia and have a mortgage redraw account …..with the ability to put all my income in and be able to draw on the extra repayments that I’ve made to the mortgage without any fees , and can pay my credit cards. …….So what I’m saying is the mortgage it’s self doesn’t give me credit as such , but I can redraw the extra money that I’ve put in above what the minimum monthly payment for the loan per month .
Scenario: house is paid off, no mortgage, but have high interest credit card debts, with available balances on cards, with plenty of cash flow to do velocity banking. Excellent credit. Is it possible to get a locked in rate Heloc on a home with no mortgage. Or does a first lien Heloc have to be on a mortgaged home? In this scenario, would a First Lien Heloc fixed rate be better or use a credit card and do velocity banking to pay them off?
i have about $80 to $90,000 equity in my house. i owe 119,00 mortage probably another $60,000 in our debt 600 crefit score. where do i start? house mortage $740 a month
How can can we get ahold off you? We need to find a lender that will do a first lien heloc. Thanks for all you do sharing gold nuggets on all your videos.
Can you get a HELOC after living in a home for 2 years? Credit score in 720’s, no late payments, etc. Owe about 156,000, Zillow est value at 190-210,000
To my understanding (or maybe not) the more payments you make within the month breaks the interest down. The lower the rate the better but does it really matter the rate if you're making weekly deposits?
A variable interest rate loan can increase and decrease. So maybe you got a HELOC at 8% interest but 2 years later it's at 13% or vice versa. Fixed rate means the interest rate stays the same. You got it at 8% and 3 years later it's still at 8%.
Hey! Thank you for your videos! I really appreciate all you are doing. I have watched pretty much all your videos ans i still have a few questions. How do i communicate with you directly?
I am not knowledgeable or strong on how heloc works and I called mortgage company. I told them I want a heloc to rep,ace my mortgage. She asked me where did I hear this because she was t familiar with this. She asked me if I wanted to borrow to upgrade house. I said I like a heloc line of credit. She asked if I had a 401 and if I had 250000 in that account because that’s the only way to get a heloc. she called me back in the week and asked me if I wanted to refinance I said no.
I have a heloc right now with a balance of $63,000 and current interest is at 8%. I have also a mortgage with a balance of $48,000 with a current interest rate of 3.25%. Which one should I pay off first . The best move or to save money and interest . Thank you
just got approved for a HELOC, but its variable (8%) now due to inflation. My mortgage is 3.25%. 10 year draw, 20 year repay. I got the HELOC to pay off credit card debt (high interest cards!). So if the HELOC int rate is more than my mortgage, is it still worth it?
She has explained in other videos that the mortgage interest rate is never the real rate you pay. A 7% interest rate becomes like 140% - it’s in the loan closing documents fine print! I think is saw it in her viral video with over 2million views.
I own a home and have probably 60k in equatity on the house. If I open a HELOC, do I setup my direct deposit to the HELOC and if so what happens if my HELOC reaches 0 balabce and another deposit is put in?
Thinking about paying off equity loan @6.56% bal. 187,000 & no interest CC $39,000 with a HELOC getting ready to retire in 18 mo. ...Does this make sense?
How can one by pass the loan company when there is this agreement on the loan by using a loc? It Looks like one has to abide by the amortized loan agreement.
Hi, I have a mortgage that is not fixed,and with the rates going up I’m paying a lot of money right now I was thinking to get a Heloc how do I do that do I tell the bank what I’m trying to do or do they just transfer the loan in to the Heloc?
Hello they keep telling me in texas i can't use the heloc im try to get as a bank ,they said i would have to pull out like 10000 to 50000 at a time can you send me that site wher i can apply for the heloc your talking about
I read hag gills book “how to pay off your home years sooner”. I have a 6.5 interest rate with a 320,000 balance. I’m trying to find the right PLOC. I don’t have enough equity for a HELOC. What boxes does the PLOC I get need to check? Is it okay that I have to request the money from the bank?
Sounds like I have to worst possible HELOC. Variable rate, limited transactions. My interest has done up 2% last year and my payment followed, over $100 more.
I get the 1st lien Heloc. But what if you owe $140k on your mortgage, the house is worth 355k and you get a 1st lien Heloc and then you want to sell your home and move. If you’ve already got a first lien HELOC and you pay off 140k mortgage (with the 200,000 equity) when you sell your house how much would make? I’m confused?
Should I Max out on a HELOC amount borrowed, even if I don’t need it right now? No CcS, only a super high student loan which is more than mortgage payment right now..
Hi I use 300k from my heloc to buy an investment property should I continue pay off the heloc as is or refi the mortgage on the investment property. To pay off the 300k?
I have been watching your videos lately. I understand a little bit and I'm not sure I can implement this idea fully but I was also thinking instead of paying credit cards off completely one at a time perhaps paying all the cards down simultaneously using a heloc at least until all are at a good debt ratio could be better. This might open up possibilities for lower rates on existing debt while we pay it down. What are your thoughts?
Hi Michael! The point of velocity banking is gaining CASH FLOW…while saving lots of INTEREST. Paying on each card doesn’t necessarily gain cash flow. Turning a credit card payment into cash flow makes debt come down much quicker while saving interest as well. Please contact me with additional questions and thank you for watching!
I owe 180,000 it matures January 2043 $610 goes to principal $433 is going to interest and $956 monthly for taxes and insurance. What can you tell me about this scenario....paying 10,000 towards the mortgage from the heloc every time the 10,000 is paid off. What does that do for me? Thanks so much!!!!!!
Im working with a bank for 1st heloc refi. Its not a fixed rate, but it has a max of 13.75%. Is it worth it? Just seems like its prstty certsin i will hit that max rt eventualky with the way they are raising rates right now.
Yes there are minimal fees getting a HELOC. I think $500 for appraisal, and another fee for application maybe…nothing like fees associated with a mortgage. If you do a first position HELOC, they will give you checks and debit cards for that account to use at your discretion.
I'm interested in talking with someone you know about a 1st lien Heloc, I live in Texas. Would appreciate it deeply if you could hook me up with some loan officers.
Hi Christy, thank you for the fantastic video. I am thinking of applying for HELOC to pay Mortgage and college tuition. Can you please recommend a few banks that offer fixed rate HELOC ? Also I just submitted a contact form since I am interested in your consulting services. Thank you.
Can you help someone that doesnt have $5000 a month in income, and owes 35,000 in credit card debt? Only has $2200 a month income mortgage of 1600, bills $1000. No money for food or gas, unless using credit cards and maxing them out again. 😢
I never thought I would be able to pay off my mortgage until I found you. Now kissing debt free on personal debt and looking forward to tackling my mortgage. Thank you so much.
I love your videos...I live in Texas and would like to use a HELOC. I am transitioning from a construction loan to a mortgage in December.
Texas has different rules about HELOCs unfortunately. Hoping you can find one to meet your needs.🙂
Easy one. 5 years they’re debt free including house.
🙌🏼🙌🏼🙌🏼👏🏼👏🏼👏🏼👏🏼❤️❤️❤️
I live in Australia and have a mortgage redraw account …..with the ability to put all my income in and be able to draw on the extra repayments that I’ve made to the mortgage without any fees , and can pay my credit cards. …….So what I’m saying is the mortgage it’s self doesn’t give me credit as such , but I can redraw the extra money that I’ve put in above what the minimum monthly payment for the loan per month .
What do you recommend if your credit score is too low to get a HELOC even though you have equity?
Confused. How is this a first lien HELOC if there is already a first lien holder?
The mortgage is the first thing paid by the 1st Position HELOC. For more on this, check out Replace Your Mortgage.
Can we use a first line heat lock on a new home purchase?
Scenario: house is paid off, no mortgage, but have high interest credit card debts, with available balances on cards, with plenty of cash flow to do velocity banking. Excellent credit. Is it possible to get a locked in rate Heloc on a home with no mortgage. Or does a first lien Heloc have to be on a mortgaged home? In this scenario, would a First Lien Heloc fixed rate be better or use a credit card and do velocity banking to pay them off?
i have about $80 to $90,000 equity in my house. i owe 119,00 mortage probably another $60,000 in our debt 600 crefit score. where do i start? house mortage $740 a month
How can can we get ahold off you? We need to find a lender that will do a first lien heloc. Thanks for all you do sharing gold nuggets on all your videos.
Oh I didn't realize you could get a 1st Lien HELOC in Texas. Please connect me with some 1st lien HELOC Lenders/Bankers in Texas
Can I get a large enough PLOC to build a home if I have 50% down in order to avoid a mortgage? Is that possible? Thanks
Please send me list 1st lien heloc lenders!! My credit union just has variable rate one and don’t want that
Can you get a HELOC after living in a home for 2 years? Credit score in 720’s, no late payments, etc. Owe about 156,000, Zillow est value at 190-210,000
Would be interested in getting contacts from you. Want to pay off debt then invest in rental properties.
How can I get a hold of you I need help with a line credit am in ca
To my understanding (or maybe not) the more payments you make within the month breaks the interest down. The lower the rate the better but does it really matter the rate if you're making weekly deposits?
To me…No. Only because you should be making a substantial difference in that balance every week
@@VanntasticFinances Great! Thanks for replying.
What do you mean by making sure its a Fixed rate?
A variable interest rate loan can increase and decrease. So maybe you got a HELOC at 8% interest but 2 years later it's at 13% or vice versa. Fixed rate means the interest rate stays the same. You got it at 8% and 3 years later it's still at 8%.
Hey! Thank you for your videos! I really appreciate all you are doing. I have watched pretty much all your videos ans i still have a few questions. How do i communicate with you directly?
Does this apply in WA? How about TX?
Great video. I'm looking for a first lien HELOC in Florida. Can you recommend a resource in Florida? Thank you in advance.
Isn't the interest rate variable and there is a draw period and heloc does have amortization interest after a while.
Great content! We're interested in the 1st Lien HELOC in North Carolina. Would you have recommended sources for the HELOC. Thank you.
I want to check into a first lien heloc plus pay off car loan. Hoping to pay off early so I can retire.
What exactly is a HELOC?
Looking on becoming a first time home owner any information will be helpful thanks and god bless.
Home Equity Line of Credit
Wish i could have gotten this information and able to utilize this
You can do it! I started late too, but it all works out.
@VANNtastic! I appreciate your videos. I will look Into a helic after I actually get into the home. COE 6/21/23.
I am not knowledgeable or strong on how heloc works and I called mortgage company. I told them I want a heloc to rep,ace my mortgage. She asked me where did I hear this because she was t familiar with this. She asked me if I wanted to borrow to upgrade house. I said I like a heloc line of credit. She asked if I had a 401 and if I had 250000 in that account because that’s the only way to get a heloc. she called me back in the week and asked me if I wanted to refinance I said no.
Do not ask mortgage Co. Go to bank or credit union to get heloc.
I have a heloc right now with a balance of $63,000 and current interest is at 8%. I have also a mortgage with a balance of $48,000 with a current interest rate of 3.25%. Which one should I pay off first . The best move or to save money and interest . Thank you
Need more info please on a first lien heloc.
I’m very interested in a first lien heloc how do i get one?
just got approved for a HELOC, but its variable (8%) now due to inflation. My mortgage is 3.25%. 10 year draw, 20 year repay. I got the HELOC to pay off credit card debt (high interest cards!). So if the HELOC int rate is more than my mortgage, is it still worth it?
She has explained in other videos that the mortgage interest rate is never the real rate you pay. A 7% interest rate becomes like 140% - it’s in the loan closing documents fine print! I think is saw it in her viral video with over 2million views.
I’m interested in A first lien heloc
I live in Hawaii. If i move my mortgage into a HELOC, i cannot claim property taxes.
Sorry, i meant that we cannot claim interest on the Heloc loan. In Hawaii
Looks like a reverse mortgage and you end up with nothing.
Please explain
I own a home and have probably 60k in equatity on the house. If I open a HELOC, do I setup my direct deposit to the HELOC and if so what happens if my HELOC reaches 0 balabce and another deposit is put in?
Impressive product for the consumer! This a great play!
Thinking about paying off equity loan @6.56% bal. 187,000 & no interest CC $39,000 with a HELOC getting ready to retire in 18 mo. ...Does this make sense?
How can one by pass the loan company when there is this agreement on the loan by using a loc? It Looks like one has to abide by the amortized loan agreement.
Do I have to have a really good credit score to do this?
Hi, I have a mortgage that is not fixed,and with the rates going up I’m paying a lot of money right now I was thinking to get a Heloc how do I do that do I tell the bank what I’m trying to do or do they just transfer the loan in to the Heloc?
I dont get it!!
I’m wondering if this would benefit me to get out of a home equity loan that I got it 2021 with an interest rate of 2.62% @ 15 years?
Hello,
How do I use a heloc with a minimum withdraw that is less than your expenses?
How do I speak with you about this? I’m really interested in doing this.
how do i get a first lein heloc
Would like information about lenders in my area
Love this channel, I’m interested in who you recommend for a first lien heloc please???
Hello they keep telling me in texas i can't use the heloc im try to get as a bank ,they said i would have to pull out like 10000 to 50000 at a time can you send me that site wher i can apply for the heloc your talking about
I’m looking for a HELOC. What banks/ Credit Unions do you recommend that offer fixed rates? Thank you!
Good luck on finding one!
I read hag gills book “how to pay off your home years sooner”. I have a 6.5 interest rate with a 320,000 balance. I’m trying to find the right PLOC. I don’t have enough equity for a HELOC. What boxes does the PLOC I get need to check? Is it okay that I have to request the money from the bank?
Sounds like I have to worst possible HELOC. Variable rate, limited transactions. My interest has done up 2% last year and my payment followed, over $100 more.
Check other banks and transfer
Can you do one with a CA priced home please 600k
I get the 1st lien Heloc. But what if you owe $140k on your mortgage, the house is worth 355k and you get a 1st lien Heloc and then you want to sell your home and move. If you’ve already got a first lien HELOC and you pay off 140k mortgage (with the 200,000 equity) when you sell your house how much would make? I’m confused?
You would get the equity in your house the same as if you paid off a mortgage with the sale. So in your example 355k-140k = 215k
Should I Max out on a HELOC amount borrowed, even if I don’t need it right now? No CcS, only a super high student loan which is more than mortgage payment right now..
Hi Christi. I am interested in a heloc but my credit score is 640 mainly due to hard hits. Advice?
You can get a heloc with minimum credit score of 620 dti 50%
Hi I use 300k from my heloc to buy an investment property should I continue pay off the heloc as is or refi the mortgage on the investment property. To pay off the 300k?
Hi Christy, how do taxes due get paid with a HELOC if my current loan is impound?
I would love love to know more and where i can get involved with a heloc mortgage loan.
I have a link below… FIRST LIEN HELOC
how can we get in contact with you ?
vanntasticfinances.com
Could you please hook me up with loan officers who works with first lien heloc? Thank you.
@TanveerAhmed You should email Harrison@cmgfi.com. He can help you. Tell him Christy sent you!
I would like information on HELOC leaders.
whats the difference between a 1st lien or 2nd lien?
@GrymmTymm1313 1st Lien takes over mortgage.
@@VanntasticFinances Is there any difference if I simply pay off my mortgage with my heloc? Seems like it would be the same result.
I have been watching your videos lately. I understand a little bit and I'm not sure I can implement this idea fully but I was also thinking instead of paying credit cards off completely one at a time perhaps paying all the cards down simultaneously using a heloc at least until all are at a good debt ratio could be better. This might open up possibilities for lower rates on existing debt while we pay it down. What are your thoughts?
Hi Michael! The point of velocity banking is gaining CASH FLOW…while saving lots of INTEREST. Paying on each card doesn’t necessarily gain cash flow. Turning a credit card payment into cash flow makes debt come down much quicker while saving interest as well. Please contact me with additional questions and thank you for watching!
@@VanntasticFinancesDo you give consulting?
I am interested in doing the first Lien Hiloc. I would like to wipe my debt out not sure how to contact you so I left you a message.
FIRST LIEN HELOC 👉 flhambassador.com/christyvann/
I owe 180,000 it matures January 2043 $610 goes to principal $433 is going to interest and $956 monthly for taxes and insurance. What can you tell me about this scenario....paying 10,000 towards the mortgage from the heloc every time the 10,000 is paid off. What does that do for me? Thanks so much!!!!!!
Hello Christy, please connect me with a loan officer for s First Lien HELOC
Nika ❤😊
Im working with a bank for 1st heloc refi. Its not a fixed rate, but it has a max of 13.75%. Is it worth it? Just seems like its prstty certsin i will hit that max rt eventualky with the way they are raising rates right now.
@tomv1335 Seems like a VERY high rate.
our there charges or fees for getting a HELOC
how do you add monthly expenses to a HELOC? Do you get a debit card to use? thank you
Yes there are minimal fees getting a HELOC. I think $500 for appraisal, and another fee for application maybe…nothing like fees associated with a mortgage. If you do a first position HELOC, they will give you checks and debit cards for that account to use at your discretion.
I'm interested in talking with someone you know about a 1st lien Heloc, I live in Texas. Would appreciate it deeply if you could hook me up with some loan officers.
Hi Christy, thank you for the fantastic video. I am thinking of applying for HELOC to pay Mortgage and college tuition. Can you please recommend a few banks that offer fixed rate HELOC ? Also I just submitted a contact form since I am interested in your consulting services. Thank you.
I’ll answer you by email. Thank you so much for contacting me!
@Vannfinances Could you provide me with a list of recommeded lenders or banks as well please?
@@nadib239 your local credit union is the best recommendation I have
I’m super interested in 1st lien HELOC n with with financial institutions?? Thank you for your amazing wisdom, guidance n videos!!
Hi I am in the Dallas TX area and would like to get a HELOC loan. Thanks
Can you help someone that doesnt have $5000 a month in income, and owes 35,000 in credit card debt? Only has $2200 a month income mortgage of 1600, bills $1000. No money for food or gas, unless using credit cards and maxing them out again. 😢
File bankruptcy..that's what we did
Is a 13.25% LOC decent?
Praise the Lord!!!!
Except that ... HELOCs are not simple interest.
I’m pretty sure they are. And if they aren’t, they definitely aren’t amortized which is much more expensive interest wise.
#homeinvestments
Definitely interested in a heloc. Have about 5k in credit cards and about 90k in school debt. I’ll send you an email if I can find it in your channel.
VANNtasticFinances.com
Go here for FIRST LIEN HELOC 👉 flhambassador.com/christyvann/