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07-05-2008, 04:34 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 2,288
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PennFed home equity loan
Im in the middle of getting the 10 yr PenFed home equity loan deal done. They say they will be calling me in the next few days to set up a closing.
I just checked their website and the rate is now 5.49% up from 4.99%. Is this like a home mortgage where I have to pay the higher rate since nothing was locked in?
I'll call them Monday but was wondering if anyone knows for sure or if this happened to them.
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07-05-2008, 08:44 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Sep 2002
Posts: 1,143
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I would think if you are already approved for the loan then it was at the lower rate. I did this loan 2 months ago. Simple and quick. Let us know how it turns out.
Tomcat98
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07-05-2008, 08:49 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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You can call and ask them, but when I applied for a car loan about 3 years ago, the rate on their site bumped up after I applied but before I bought the car. They honored the lower rate anyway.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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07-05-2008, 10:26 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 2,288
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Cool, I hope you guys are right. I'll let you know.
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07-06-2008, 08:41 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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I believe it was changed some time ago (more than a week), but you will not know until you ask. BTW PENFED HELOC is down to 4.5% (quarterly adjustable) and NFCU (Navy Federal CU) has an adjustable HELOC at 4.25%.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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07-08-2008, 12:27 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 2,288
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I am locked in at 4.99%. Yipee!
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07-08-2008, 12:32 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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 Quote:
Originally Posted by utrecht
I am locked in at 4.99%. Yipee!
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Very nice. Generally a class act shop over there.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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07-08-2008, 02:52 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
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Quote:
Originally Posted by utrecht
I am locked in at 4.99%. Yipee!
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Outstanding, PFCU has been my Financial Institution of choice for the past 33 years.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
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