PennFed home equity loan

[utrecht]

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.

 

[JDARNELL]

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

 

[brewer12345]

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.

 

[utrecht]

Cool, I hope you guys are right. I'll let you know.

 

[OAG]

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%.

 

[utrecht]

I am locked in at 4.99%. Yipee!

 

[brewer12345]

I am locked in at 4.99%. Yipee!

Very nice. Generally a class act shop over there.

 

[OAG]

I am locked in at 4.99%. Yipee!

Outstanding, PFCU has been my Financial Institution of choice for the past 33 years.