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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: FIREin2018 on October 01, 2018, 08:43:37 AM

Title: Cheap HELOCs?
Post by: FIREin2018 on October 01, 2018, 08:43:37 AM

my current Prime -1% HELOC is at the end of the draw phase.
i owe $0 so it'll close automatically.

doing the application for a new Prime -1% Heloc from same bank, i noticed they now have a $65 annual fee. :(

recommendations for HELOCs?

Title: Re: Cheap HELOCs?
Post by: Cubert on October 03, 2018, 05:16:35 AM

$65 for an annual fee on a HELOC is peanuts. At that rate, just pay the $65 and enjoy the fact that you can use this pool of dollars as an emergency fund, rather than setting aside cash to wallow in a savings account.

Title: Re: Cheap HELOCs?
Post by: FIREin2018 on October 03, 2018, 08:26:53 AM

Quote from: Cubert on October 03, 2018, 05:16:35 AM

$65 for an annual fee on a HELOC is peanuts. At that rate, just pay the $65 and enjoy the fact that you can use this pool of dollars as an emergency fund, rather than setting aside cash to wallow in a savings account.

so an annual fee is now standard for Helocs?

last decade, none of the good Helocs had annual fees