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Old 12-01-2016, 05:29 PM   #1
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Join Date: Apr 2013
Default Negotiating HELOC at the same time as mortgage renewal?


Is there any benefit to trying to get a HELOC at the same time as you go through your mortgage renewal? Could it be used to "sweeten the pot" by the borrower in order to secure a better rate from the lender?

In my case I forecast to have some equity built up at my next mortgage renewal, but not enough equity such that the LTV with the HELOC would be below 65% or the threshold to have a HELOC with an institution that does not hold the mortgage.

Given that I would have to arrange the HELOC with the bank that wins my mortgage renewal, is there a benefit to me in using this in the negotiation?

Thank you
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