Home Equity Line of Credit.. best deals??

[Enuff2Eat]

All,

I am currently carrying a HELOC of $90,000.00 at 8%. Could someone on this board please give me a recommendation to find a "better" deal than 8%. I have seen many as low as 7.55% but not sure if it's worth the trouble because it could just be an introductory rate.

please advice

enuff

 

[tryan]

I saw prime - 1% with Banknorth. May have expired within the week ... not sure.

 

[brewer12345]

What is your CLTV? Good FICO score? If you are under 70% there are deals for prime minus 1/2% (maybe even lower).

 

[jazz4cash]

This can get tricky unless you look closely at APR to normalize discounts. Must also consider index, margin, frequency of adjustments and caps. Prime -1% seems to easy to find around here which is 7.0, I think. The best I've seen around here is PenFed Realty (Pentagon Federal CU) which is 5.99 APR/20yrs/ 80% CLVT/ 400k max...........I cant recall if its fixed or variable

 

[Enuff2Eat]

thanksjzazz, i will check it out

enuff

 

[Enuff2Eat]

jazz, i checked penfed out. it's not really a better deal... 7.75% heloc.

thanks anyway.

enuff

 

[brewer12345]

jazz, i checked penfed out. it's not really a better deal... 7.75% heloc.

thanks anyway.

enuff

Are you a Schwab client? They are offering cut rates for their brokerage/bank customers.

 

[Enuff2Eat]

thanks brewer, i will check it out. yes i am a member of schwab account.


enuff

 

[jazz4cash]

Sorry for the false alarm. I think 5.99 is the loan option, not the LOC.........still pretty good! If my CU will match that rate, I may switch over from LOC to loan.

Oh....how about DiTech?