I didn’t achieve financial freedom until I turned 40. As a US citizen, I raised capital by taking out a home equity loan. The interest rate was much lower than other loans, which made it a smart choice. With patience and discipline, I reinvested my earnings and avoided impulsive decisions. This strategy helped me grow my wealth, eventually allowing me to buy a new home and a car. If you’re looking to raise capital and achieve financial freedom, consider this approach.
She not only helped me secure a favorable home equity loan but also provided invaluable advice on where to invest and how to stay disciplined. Her personalized approach and deep knowledge of financial markets made a huge difference in my journey to financial freedom.
It's challenging to find a reliable advisor, and I appreciate your input. Seeing the successes you've achieved through Regina, I would love to have access to her if you wouldn't mind sharing how.
I work with Regina Louise Collaro as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
We have several repairs that are needed. The roof need replaced & our home owners insurance didn't want to pay for the roof leaks. Our heat pump quit working years ago. There are a few other things needing done. We are discussing renting out some rooms as we are empty nesters in a big house.
Thanks! I had 12 windows opened to learn more about a HELOC and after watching your video there was no need to watch the others. You covered everything perfectly. Thanks for saving me time.
Great content. Thank you. I’m subscribed. Can I use a HELOC against a second home for my child’s college education? Also, timing wise should I move on it now when she’s not stating college until Fall 2025? Thank you. You have a follower.
Thanks so much. I want to finish off my basement. I actually have the cash/investments to do it, but my financial advisor advised me to look into HELOC's. Any input on this idea?
@@JayCosta That's what I eventually concluded. I'm in a condo, and there are additional fees for condos. Plus, my credit union told me fees went up a good bit last Fall. HELOC's would not be the good deal they used to be for me. But I learned a lot about them. Thank you.
Question is i have 2 homes with the same lender. But trying to tap into my HELOC outside of state which credit union wont give loans. Would it make sense to stay with those big banks?
Rental unit needs structural help at the front porch/balcony. 90% demo and then rebuild. Only have half the amount needed to fund the project but that is kind of out safety net fund. Bottom unit covers mortgage.. 30-40% of upper unit rent would cover HELOC monthly payments.. would you recommend heloc?
I purchased a property cash on the auction $6k in Ohio. But it needs to be rehabbed. Do you have any recommendations for lenders that would lend in that area for this type of scenario.
I have a house that I owned only 60,000 but I want to apply for the Heloc to buy another house and live there with roommates now this place is 350,000 what credit unions you suggest in Austin Tx?
I have a home fully paid and a second home I use as a rental property. I wanted to get a Heloc to use as a down payment for another long term rental property. I understand the variable rate and rates are high right now but since I really have no expenses I wanted to get the home and rent it out. I understand that I may be paying out of pocket for a while but eventually the rent should take care of the property. Do you think this is a good idea? Also I work at a hospital full time and make 6 figures a year
I am starting my homework, however I am curious it sounds like I should shop and then apply once for my HELOC, is there is any impact to my credit score is I apply for 3 at the same time?
Same Idea about HELOC Jay, thanks for the content. Also new thing while I’m getting pre approval with bank, they pull out the card of bankruptcy score is 300 to decline my loan, because my credit score 721 😂🤦♀️🤷♀️
Hi! I am gonna buy a condo as primary. I was planning to put %15 down and keep a little more cash in my savings account to make sure I have emergency. However now, because of the condo policy my lender says I have to put %25 down to get mortgage OR came up to me I can use $50k HELOC for my down payment and use the rest for a mortgage to able to get up to %25 percent total. Terms are prime+%1.5 and 30 years total. I live in Miami /Florida. Since I am gonna use as a primary home It kinda make sense to me. But I want to make sure it’s a wise way to buy a property. Would you recommend me go forward with HELOC(It will be $450 per month which is like 1/4 of my total mortgage payment)? Any HELOC lender that you can recommend in Florida? Thanks so much!
I work also commission based making 6 figures. So I can pay off my heloc earlier than my mortgage or I can refinance both in couple years when rates go down.
Before you go through the entire loan process first ask how much are the fees. When they told us it would be $3500.00 just to barrow are own money we hung up. Unbelievable. Wasted 1 hour.
Exactly no freaking idea what a HELOC is..SMOKE SIGNAL-HELP!? So make payment from such money, what if cant afford it reason getting money in the 1st place-yikes!
I didn’t achieve financial freedom until I turned 40. As a US citizen, I raised capital by taking out a home equity loan. The interest rate was much lower than other loans, which made it a smart choice. With patience and discipline, I reinvested my earnings and avoided impulsive decisions. This strategy helped me grow my wealth, eventually allowing me to buy a new home and a car. If you’re looking to raise capital and achieve financial freedom, consider this approach.
Hey Queen,pls how did you qualify for a home equity loan,what types of investments did you make with the loan ?
I’m glad you found my story interesting! I couldn’t have achieved this without the help of Regina Louise Collaro,
She not only helped me secure a favorable home equity loan but also provided invaluable advice on where to invest and how to stay disciplined. Her personalized approach and deep knowledge of financial markets made a huge difference in my journey to financial freedom.
It's challenging to find a reliable advisor, and I appreciate your input. Seeing the successes you've achieved through Regina, I would love to have access to her if you wouldn't mind sharing how.
I work with Regina Louise Collaro as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I watched so many videos about HELOC and still didn't understand it completely until I watched tour videos. This is amazing. Thank you
Awesome, glad I could help
We have several repairs that are needed. The roof need replaced & our home owners insurance didn't want to pay for the roof leaks. Our heat pump quit working years ago. There are a few other things needing done. We are discussing renting out some rooms as we are empty nesters in a big house.
Thanks! I had 12 windows opened to learn more about a HELOC and after watching your video there was no need to watch the others. You covered everything perfectly. Thanks for saving me time.
You're the man, Anthony! What are you planning on using your HELOC for?
Dude is very informative…. The first one to explain a Heloc in full details that I can understand!!!
Glad it was helpful! Thanks for watching!
Thank you Jay, it is a very informative video, I just submitted an application this week. Now I know the pros and cons. 😊
I just completed my application today and still feel a little nervous about the whole thing, but l am thankful that l listened to your video
Finally a good video about this topic.
Thanks for watching it
Great video! Very informative!
Glad you enjoyed it and thanks for watching!
Great Video! Thank you for sharing. 🙌🏽😊
best HELOC explanation video
Glad you think so. Thanks for watching!
Thanks!
Thabk you so much, Nicole!
Great content. Thank you. I’m subscribed. Can I use a HELOC against a second home for my child’s college education? Also, timing wise should I move on it now when she’s not stating college until Fall 2025? Thank you. You have a follower.
Having equity in your house is not waste
Agreed
Very informative Video my friend. Thx
Glad you liked it. Thanks for watching!
Thanks so much. I want to finish off my basement. I actually have the cash/investments to do it, but my financial advisor advised me to look into HELOC's. Any input on this idea?
Just pay cash. Thanks for watching!
@@JayCosta That's what I eventually concluded. I'm in a condo, and there are additional fees for condos. Plus, my credit union told me fees went up a good bit last Fall. HELOC's would not be the good deal they used to be for me. But I learned a lot about them. Thank you.
Question is i have 2 homes with the same lender. But trying to tap into my HELOC outside of state which credit union wont give loans. Would it make sense to stay with those big banks?
Thank you, your information is great, 👍🏼
about to answer you on live stream. Check in here: ua-cam.com/users/live7RIx28aclZ0?feature=share
Could you still take a HELOC if you don’t have a mortgage anymore.
Yes, it would be called a first position HELOC. Thanks for watching!
Great video. I’m also in NJ. Any credit unions in NJ or Bergen that you recommend? Greatly appreciate it. Thanks.
Thanks I am in Bergen County also. I used M&T bank, but looking for another one soon. I will keep you posted.
@@JayCosta I'm in Bergen County as well. Is M&T still your go to bank?
Rental unit needs structural help at the front porch/balcony. 90% demo and then rebuild. Only have half the amount needed to fund the project but that is kind of out safety net fund. Bottom unit covers mortgage.. 30-40% of upper unit rent would cover HELOC monthly payments.. would you recommend heloc?
Heloc payments are interest only, so how will you pay down the principal?
@@JayCosta 60% would be income from job and 2nd unit covers 40% of payments
Hey Jay I hsve paid 2 time late my mortgage and they told me that disqualify me I just ask 1 lender😮 those is true I have everything else
Yeah probably, get back on track with payments and try again! Thanks for watching!
I purchased a property cash on the auction $6k in Ohio. But it needs to be rehabbed. Do you have any recommendations for lenders that would lend in that area for this type of scenario.
$6k wow! I would recommend a hard money for that. Thanks for watching!
I have a house that I owned only 60,000 but I want to apply for the Heloc to buy another house and live there with roommates now this place is 350,000 what credit unions you suggest in Austin Tx?
I am unfamiliar with Austin market, but i would just google search "Austin TX credit union HELOC" and look at some reviews. Keep me posted!
I've been hearing that Texas doesn't allow HELOCS.
Can i use it to start my trucking company?
I would get the money elsewhere to start a business. Thanks for watching!
That's what scares me is they can call back the money at any time. I know in 2008 that was the biggest problem
Want to do velocity banking but no point if you have to put it back immediately
What do you plan on using the HELOC for?
@@JayCosta debt consolation quicker pay off.
What’s the criteria you need to have? And Does this apply in Australia 🇦🇺?
Dont know about Australia, Sorry.
@@JayCosta I spoke with a finance broker few days ago here in Australia, the criteria and everything else sounds pretty much the same as in America 👍
If bank offers offered lower than prime rate, is that a red flag?
No, maybe it's an introductory rate. Thanks for watching!
I’m in California, is there any recommendations on lenders?
Would getting a heloc be sound for paying off recently acquired land,say 14pct interest on that land?
Well your not paying off anything, you are just transferring the debt from one vehicle to another. Do you have a loan on the land currently?
I have a home fully paid and a second home I use as a rental property. I wanted to get a Heloc to use as a down payment for another long term rental property. I understand the variable rate and rates are high right now but since I really have no expenses I wanted to get the home and rent it out. I understand that I may be paying out of pocket for a while but eventually the rent should take care of the property. Do you think this is a good idea? Also I work at a hospital full time and make 6 figures a year
Only use a HELOC as a down payment if you are planning on renovating, renting out, and then pulling a cash out refi. Thanks for watching!
I am starting my homework, however I am curious it sounds like I should shop and then apply once for my HELOC, is there is any impact to my credit score is I apply for 3 at the same time?
Answering Your Questions Lice at 1:30! ua-cam.com/users/liveYO6_PFOEv8M?si=qYNrll9ZrJy5qkCn
Same Idea about HELOC Jay, thanks for the content.
Also new thing while I’m getting pre approval with bank, they pull out the card of bankruptcy score is 300 to decline my loan, because my credit score 721 😂🤦♀️🤷♀️
That seems odd, do you have a bankruptcy on your credit history? Thanks for watching!
Can you Heloc on a house is not your primary residence?
Now responding LIVE here: ua-cam.com/video/2DcWqBiewGM/v-deo.html
Hi! I am gonna buy a condo as primary. I was planning to put %15 down and keep a little more cash in my savings account to make sure I have emergency. However now, because of the condo policy my lender says I have to put %25 down to get mortgage OR came up to me I can use $50k HELOC for my down payment and use the rest for a mortgage to able to get up to %25 percent total. Terms are prime+%1.5 and 30 years total. I live in Miami /Florida.
Since I am gonna use as a primary home It kinda make sense to me. But I want to make sure it’s a wise way to buy a property.
Would you recommend me go forward with HELOC(It will be $450 per month which is like 1/4 of my total mortgage payment)? Any HELOC lender that you can recommend in Florida?
Thanks so much!
I work also commission based making 6 figures. So I can pay off my heloc earlier than my mortgage or I can refinance both in couple years when rates go down.
about to answer you on live stream. Check in here: ua-cam.com/users/live7RIx28aclZ0?feature=share
Does a Heloc require the clear title under your name of the property?
about to answer you on live stream. Check in here: ua-cam.com/users/live7RIx28aclZ0?feature=share
A Heloc under current rates and or even a little lower makes no sense to me.
Depends on what and how long you are using it for! Thanks for watching!
Before you go through the entire loan process first ask how much are the fees. When they told us it would be $3500.00 just to barrow are own money we hung up. Unbelievable. Wasted 1 hour.
Now responding LIVE here: ua-cam.com/video/2DcWqBiewGM/v-deo.html
Do you have to already have a home to apply for the HELOC???
yup, for sure. Thanks for watching!
HELOC on a house that was gifted to me?
about to answer you on live stream. Check in here: ua-cam.com/users/live7RIx28aclZ0?feature=share
I think the best thing to do with it is to buy bitcoin
Now responding LIVE here: ua-cam.com/video/2DcWqBiewGM/v-deo.html
Exactly no freaking idea what a HELOC is..SMOKE SIGNAL-HELP!? So make payment from such money, what if cant afford it reason getting money in the 1st place-yikes!
Thanks!
Thank you so much Anthony!!