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Best HELOC loan rates around?

324 43 May 15, 2017 at 12:14 PM
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I'm looking for a 15yr HELOC loan, I've heard of a few local credit unions with 3.75% on down to a rumored 2.8% rate and just wondering what's obtainable online? I just need to be allowed to add on a couple cosigners. The 2.8% rate offer had a lot of hoops to jump through (cosigners needed to be on the deed, seemed strange to me but I may ultimately just do this for that better offer)

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#2
ypu should include how much you plan to pull out of the property
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#3
I got a random unsolicited offer from BoA who I already have a banking relationship with (refi'd my mortgage FROM them about a year ago). Anyway, their base rate was good but there were 3 other rate discounts that really knocked the rate down almost a full point into the low 2's, and they weren't extreme:
- premiere members (eg. means you have other $$ with them)
- auto pay discount (auto xfer from other BoA accounts for payment)
- min 40k withdrawal at inception that you have to keep for 3 months

All those are totally doable, even the 40k part (just take the $$ out, put in savings or whatnot, then pay back whatever you don't need after 3 months).
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#4
If you won't be keeping the HELOC for a long time, there are very low introductory rate HELOCs. Regions bank has .99% for 6 months.
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#5
Quote from hmrambling
:
If you won't be keeping the HELOC for a long time, there are very low introductory rate HELOCs. Regions bank has .99% for 6 months.

Then it goes to variable APR. I am wondering who would really go through the effort of taking out HELOC for only 6 months? Sure it might save some $$ even if you don't intend to pay off in 6 months, but I wonder if it's worth the hassle:

0.99% intro APR for 6 months
After that, variable APR applies. Currently 4.75% - 11.125% APR1
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#6
well i would make sure its fixed not variable, rates went up.... why not just get a 15k limit CC with 5% interest no cash advance or bt fees?
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#7
Quote from jfriend33
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well i would make sure its fixed not variable, rates went up.... why not just get a 15k limit CC with 5% interest no cash advance or bt fees?
Ok, I'll bite
Where?
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for those that hate spelling mistakes www.walmarts.comCool

bulb save money by checking your insurance every 2 years (and not every 20) Thanks Liberty Mutual for reminding me to shop. The $842 increase this year sums it up. Across the board increase for Ohio....whatever
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#9
Quote from Thos19
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How about this deal:

https://www.massbaycu.org/heloc-promotion
did they say what the closing turn around is?
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