Best place to *gasp* shop for home equity loan?

[Huffduf41]

So finally going to build a barn to house/work on non mustachian things that make me happy.  I have the money but I'm bullish on the market so if I can borrow <=4% I probably will.  Curious where the best place is to find a low rate.  I have near perfect credit and roughly $400k in equity in the house.

Thanks!!!

[Mr. Green]

bankrate.com?

[MrFrugalChicago]

What is your current LTV?

Sometimes a refi could be better, other times a HELOC. I found the best rate when I shopped at bankrate, but took some digging. Very different product from each seller, so be sure you are comparing apples to apples.  Your rate go from 4% for 80% LTV up to 7% for 100% LTV (with the same credit), so the LTV part will figure a fair bit into it all.

[Huffduf41]

I need roughly $130k.  I owe $373k at 3.375% 30-year on a house taxed at $840k.

Thanks again for the help!

[Blindsquirrel]

 if you ar in Oh, Ky, In, Union Savings/Guardian is cheap very cheap!

[Dicey]

OMG, what kind of barn are you planning on building? $130k seems steep.

[TomTX]

bankrate.com?

For the past few years they have seemed to really suck.

I found the best deal on a HEL or HELOC was one of my local credit unions.

[katsiki]

I can recommend Hanscom FCU.  Check them out - https://www.hfcu.org/loans-and-credit-cards/home-equity.html#goto_6

[Huffduf41]

Thank you very much, will see if Hanscom does business in Michigan!!!!

[Huffduf41]

Hanscom does business in Michigan and their rates are solid, currently top contender.  Anyone else have other options?

Thanks again!!!!!

[katsiki]

Awesome!  They are smallish but great to work with.

[Syonyk]

OMG, what kind of barn are you planning on building? $130k seems steep.

Sounds more like a year round outbuilding/shop than a barn.

If you want to work out there all year and not freeze to projects or burn yourself they tend more expensive. I'd also guess there's some tooling and machinery costs in that.