Best HELOC Lenders in Montana 2019

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If you’re a Montana Homeowner looking to tap into your home equity, then there are some amazing second mortgage and home equity borrowing solutions available to you. All across the state, home values are on the rise, and with today’s mortgage rates hitting the historical lows that they are, there is no better time to obtain a home equity line of credit.

Today’s home finance market is primed for homeowners to not only grow the equity in their homes, but to be able to utilize it! Homeowners should be happy to know that the amazingly low mortgage and refinance rates of today extend into the rates available for second mortgages as well. If you are a homeowner interested in a home equity line of credit, now would be a perfect time to start looking for lenders and comparing interest rates.

In this article, we’ll review the best HELOC lenders in the state of Montana, and why you should consider working with them for your second mortgage.


Best Way to Find a Montana Home Equity Line of Credit Lender : Lending Tree

In today’s times, borrowers have some seriously impressive options when it comes to finding a mortgage product online. While the online mortgage trend grows and evolves each and every day, it is an undeniable fact that near the very top of the pack, one of the best online platforms for finding a mortgage solution is Lending Tree.

Lending Tree is probably the best place for potential borrowers to begin searching for lenders and loan products and to compare the rates available to them. After all, lending tree has a vast network of over 300 banks that it works with in order to provide its users with the best possible loan offers.

In terms of Home Equity options, Lending Tree helps borrowers narrow down the field a little by finding out the most crucial information from the borrower upfront, leaving home equity solutions that more closely match the borrower’s goals. Still, the ability to shop around for the lowest rates and the most favorable loan terms while relaxing at home is unmatched.

#1 Montana Home Equity Line of Credit Lender: Wells Fargo Bank

Regardless of who you choose to bank with, there is no denying that Wells Fargo is a huge player in the world of home finance. Home Loans, Mortgage Refinancing, Home Equity Loans, Helocs -- They do it all.

Wells Fargo is actually one of the nation’s largest residential lenders. They have endless experience originating and refinancing affordable mortgage products, and working with borrowers to ensure that they can obtain the best home loan for their financial situations.

Wells Fargo only offers home equity lines of credit, no home equity loans. Their HELOC carries a minimum loan amount of $25,000, and a maximum of $500,000. Borrowers are required to have a credit score of no less than 621, while the HELOCs have a maximum LTV of 85%.

While many of the bigger lending institutions impose strict eligibility requirements for their borrowers, The folks at Wells Fargo offer some flexibility to their clients. Along with flexibility, past clients have consistently pointed out that second mortgages from Wells Fargo have lower rates and upfront costs than is typically accepted.

#2 Montana Home Equity Line of Credit Lender: U.S. Bank

With a history dating all the way back to 1863, U.S. Bank is the farthest thing from the new kid on the block. Its strong presence in today’s mortgage market as the country’s fifth largest bank is a testament to their deep commitment to providing affordable HELOCs and home equity loans with excellent service.

U.S. Bank offers both home equity loans as well as HELOCs. Their home equity loan offering is a fixed rate HEL with a term of up to 30 years, while their HELOC product has a variable interest rate coupled with a draw period of 10 years.

U.S. Bank is well known for its knowledgeable staff and expert loan officers. Chances are, no matter what a borrower’s financial situation may look like, they can come up with an affordable home equity solution.

Experience often trumps trendy advancements, and the face-to-face personalized mortgage services offered by U.S. Bank are a shining example of this. Home buyers never have to worry about a lack of communication or being rushed, and will be treated with the same respect and due diligence as their big-name clients.

#3 Montana Home Equity Line of Credit Lender: Citibank

As one of the smaller national banking chains, Citibank keeps up with the competition admirably. Citibank has an ever growing client-base that stands as proof of the quality of service that they provide.

In terms of home equity financing, Citibank offers both home equity loans and home equity lines of credit. However, Citibank may not be able to offer loan amounts as large as some of the other banks, and they are known to have less flexibility when it comes to the LTV of a their second mortgage products.

Even so, they still offer home equity products at rates that are quite competitive to other options on the market. In addition, their application process is simple and straightforward.

Above all else, what most people agree on is the amazing level of customer service exhibited by Citibank loan officers. The experience alone makes any other drawback to choosing Citibank seem more like minor annoyances.

#4 Montana Home Equity Line of Credit Lender: Quicken Loans

Getting any type of home financing online may have seemed sketchy at best a decade ago, but the amazing team over at Quicken loans has truly set the standard for the online mortgage experience. Quicken Loans (and it’s online division Rocket Mortgage) have made Home financing as simple and straightforward as possible.

The online home loan, home equity loan, HELOC and refinance process is highly geared towards a streamlined user experience. Progress on the status of second mortgage loan applications can be easily tracked online, and preapproval for an home loan can be completed in a matter of minutes.

The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The real icing on the cake comes from the support staff that can be reached by phone or through the website that is standing by to offer their advisory services and answer any questions a potential borrower may have.


 

Shop Around Before You Get a Home Equity Line of Credit

Our picks for the best home equity line of credit lenders may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best loan terms and interest rates can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal refinance solution that comes with the terms and affordability that best suits any particular financial situation.

While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!