Author Topic: Recommended HELOC lender  (Read 1770 times)

Dibbels81

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  • Posts: 104
  • Location: Highland Park, IL
Recommended HELOC lender
« on: November 28, 2017, 07:58:16 PM »
I've been looking into securing a HELOC for my home in the Las Vegas area; however, I'm finding rates rather high (6.5%) with my initial searching via the big name banks (Chase, BoA, etc). I see frequent posts with people citing their HELOC with rates sub 4.0%. Any recommendations?

AspiretoFIRE

  • 5 O'Clock Shadow
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Re: Recommended HELOC lender
« Reply #1 on: November 30, 2017, 04:34:06 AM »
Try PenFed (Pentagon Federal) they seem to be a good source and relatively cheap in comparison.  To caveat this recommendation, I have not actually closed on mine yet...but I am reasonably confident all will go well.

chasesfish

  • Magnum Stache
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  • Age: 39
  • Location: South Carolina
Re: Recommended HELOC lender
« Reply #2 on: November 30, 2017, 04:56:02 AM »
Are you borrowing money against a 1st home and is your total loan to value under 75% or 80%?

This isn't my side of the Bank, but going rates around Dallas for a primary residence, under 80% loan to value is between Prime to Prime plus 0.5%

katsiki

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Re: Recommended HELOC lender
« Reply #3 on: November 30, 2017, 09:16:40 AM »
Check out Hanscom FCU - hfcu.org

themagicman

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  • Age: 30
  • Location: Atlanta, GA
Re: Recommended HELOC lender
« Reply #4 on: November 30, 2017, 09:29:32 AM »
We have ours through PNC bank. They had the lowest rate that we could find. I don't remember the specifics but we got a half a percent off the prime rate for how much equity we had and half a percent for signing up for auto pay. I think our current rate is 3.25%