If I want to apply for a HELOC, are there particular considerations for where I should apply? For example:
1. Institution with my checking account
2. Institution with my mortgage
3. Other type of institution (don't be encumbered by existing relationships).
4. Other?

I don't intend to use it other than for some financial emergency.

All of the above. Nothing says you have to check only one place, or only two places. Find the one with the best terms for you.

Start where you have existing relationships, like your current bank and your current mortgage holder. You may or may not get slightly more favorable terms out of it.

And then compare to other lenders with whom you have no relationship.

Be sure to include any local credit unions to which you are eligible to join, as they sometimes will be slightly better than bigger banks.

During this initial stage, you'll want to clarify with them whether they are going to do a hard or soft credit pull. Soft pulls for basic information and ballpark terms are fine, but you want to wait on the hard credit pulls until you've whittled down the contenders to just a few. Then have them all hard pull your credit within the same day or two.

Otherwise, if you string the hard pulls out one at a time over days/weeks/months, these multiple hard credit inquiries will start showing up on your credit report and temporarily lowering your score, and later lenders in the process will end up seeing a lower score than the earlier lenders.

most helocs are 10 year revolving period and then 10-15 years repayment. BUT I’ve seen 10 years due on maturity. Also a lot of institutions will hit you $75-$250 a year “maintenance” fee just to keep it open and available. If you really don’t plan to use in case of real financial emergency, I’d find one that was no cost to get with the lowest annual fee. I’d try a local CU first. Then a local bank next. The big national too big to fail bank will be a nightmare to deal with.

Depending on the amount you want you may not need a HELOC. I’ve got a line of credit at a credit union that’s a little more than $20k. I haven’t used it in years- I think I originally got it for a vehicle purchase, but it’s unsecured. Doesn’t cost anything to maintain. At one point I had a HELOC from Chase at $100k. Back then they were basically free, but I don’t think that’s the case now.

Good inputs guys. Thanks. I guess I’ll start with existing institutions. Probably my mortgage company since they should have all my info.

And then maybe a CU.

I did mine with Frost konata. Pretty easy process. I called my loan guy, who has handled my house, initially, and re-fi, and when I last re-fi’d during C19, I mentioned wanting to do a cash out re-fi to remodel the house. He pushed me in the direction of a Heloc. If you open one, they’ll have you open a checking account at the same institution. If you do end up using it, then you just do a direct deposit from your own current checking, to the Heloc bank/CU, and they auto-draft the payment once a month.

I ended up using mine to buy land and glad I did as the land doubled in price pretty quickly. Within a year. I’m paying a shitload of interest every month right now but it pales in comparison to the increase of land value I’d have to pay had I waited.

Good luck sir.

I did mine where I also had my checking and mortgage.
They had the best rates but it was also convenient to just be able to transfer funds instantly between accounts when I was making a major purchase like a car so I didn't have to deal with financing.

The answer will depend on the type of credit line required.

Business or personal

Secured or unsecured

size of the line needed