Top-Ranked Balance Sheet Commercial Real Estate Lender
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[{"id": "iakc7jc", "text": "I have a client wanting to put a heloc on his primary residence. We just closed in April. Purchase price was $3.75M however it appraised for $4.25M and the first mortgage loan amount is $3.0M. We have been talking to banks that would be willing to do a HELOC but have been unable to. Either they won\u2019t use the existing appraisal and have to use the purchase price since it was purchased within 6-12 months or the banks that would do it cap the heloc at 250K. We\u2019d like to go up to at least 80% LTV so the request would be at least 400k. Would you be willing to take a look at this?", "replies": [{"id": "ialecd0", "text": "Is your client self employed?", "replies": [{"id": "ialjhy0", "text": "Yes he has a success business that would fall into most commercial banks interest list", "replies": [], "depth": 3}], "depth": 2}, {"id": "iaoa0fg", "text": "We are unable to do a HELOC on primary residences.\r  \n\r  \nWe can do refinance or cash out refinance on commercial property only.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iakrvdc", "text": "Website looks awfully suspicious", "replies": [{"id": "iaksr43", "text": "In what way ?", "replies": [{"id": "iaksyv7", "text": "Void of information. Not to mention the lack of information on a quick Google search. Everything about this feels like a scam.", "replies": [{"id": "iakttdc", "text": "The only scammer in this thread is you.", "replies": [{"id": "iakwul9", "text": "Yes valid point. Thank you for your input and constructive criticism.", "replies": [], "depth": 5}, {"id": "iakxo5h", "text": "This feedback is extremely revealing, thanks for the candor.", "replies": [{"id": "ial9tqy", "text": "You're welcome.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}, {"id": "iam1ai5", "text": "The number of loan types and loan amount range is also a huge red flag IME. If you can do $75mm loans you\u2019re not fucking with $100k loans. Mods need to take this down.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]