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HELOC 4.25% (prime - 0.75%)

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Alliant credit union currently offers some HELOC at 4.25 % which is prime - 0.75%

My existing credit union had 5.75%

They have 15 and 30 years options. (7 years draw/8 years repayment or 10 years interest only, 20 years repayment) The 30 years option has a $50 annual fee after the first year.
1 year early termination fee of $250

They also have a fixed loan for 5 years (5.25%) , 10 years (5.5%) or 15 years (5.75%)

https://www.alliantcreditunion.or...quity-loan

Not sure if everyone can qualify. I could through my company. They work in many states including IL and CA
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Created 08-21-2018 at 09:32 AM by francois
in Finance (2)
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This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2011
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#2
Your title is deceptive...you know what the prime rate is today, so just use that!
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Joined Jul 2006
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#3
Quote from PorterRanchDB
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Your title is deceptive...you know what the prime rate is today, so just use that!
Not deceptive, just could be more precise
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#4
This CU is on my radar for a 95% LTV no PMI mortgage option. I'm eligible to join as well. Rates seem quite competitive.
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Joined Sep 2011
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#5
How many will click on it thinking someone is offering a HELOC at 75 bps? 4.25% is just okay! 75 bps is a slickdeal!
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#6
Quote from gkwong
:
Not deceptive, just could be more precise
'Prime - 0.75' is as precise as '4.25' and will be accurate in the future even if prime changes whilst 4.25 will still be precise but not accurate anymore. If you are shopping for an HELOC the loading on prime is what matters.
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#7
delete
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Last edited by gkwong August 21, 2018 at 11:31 AM.
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