Best Credit Equity Home Line Rate

The one that will give you one at the terms that are the most favorable for you at the time you borrow the money.

There are a lot of lenders out there. They all constantly change the rules - mostly to suit them, not the borrower.

So, know what it is you need in a HELOC, and ask for it - if they don't have it - it either doesn't exist, OR that place doesn't do it.

For example: Loan with no early prepayment penalties, no set up fees, no yearly fees, competitive rates, fast closing, and courteous knowledgeable employees, and is convenient.

When I looked for a HELOC - it needed to be one of the cheapest, and also hassle free. A lot of banks will compete - just tell them you are considering other institutions.

I've had one of these - so I know these things (above)exist.

I have a link to the mortgage professor on my website - you may want to take a look. There is also a link to bankrate - which shows a number of institutions - but not all. Try local, then consider ELOAN.

Good Luck!

2006-04-20 18:55:14 by mvinco@sbcglobal.net

Some Ways to Lower Your Home Equity Line of Credit Rates Owning a home must be the most precious property that someone can possess in most peoples ...

I am asking because I am really nervous about applying for home equity for a roof starting very soon-probably next week.
My roof is leaking.

My credit union is currently charging anywhere from 6.5 percent for a 5-year loan up to 7.25 percent for a 20-year loan. You should probably check with whatever bank you're planning to borrow from, since I'm sure rates vary from one part of the country to another.

You might get the best rate if you try the bank that you currently have your mortgage with, especially if you explain why you need the loan. It's in their best interest to make sure your house stays in good shape.

2008-03-03 12:55:48 by happydawg

I don't need the credit line really just want to know if keeping it open is bad or good for my credit.

It could be either, but probably good depending on the length of your credit history. If it's an old account that helps your credit. Also your ratio of credit balances to credit limits will increase if you close it, which could increase your score.

2007-08-30 11:43:54 by lehigh_1999

Information and resources on how to obtain low interest rates or lower your current interest rates on Home, Auto, Credit Card, and Student Loans can be found on the following website:

http://lowertheinterest.blogspot.com



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2008-03-01 18:55:05 by SurfsUp

if you have excellent credit 720+, you can go anywhere to get a loan w/o a broker or middle-man. Best place is National City Home Equity - Just get the # from the website. No appraisal needed and it only costs you $340 for everything w/ lowest rate possible versus going thru a broker, they will either give you a higher rate so they make some $ (called YSP - yield spread premium or rebate) or charge you origination fees.

Good luck!

2006-08-29 19:42:50 by San_Carlos_hk