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May 28, 2020
10:40
:52
am
Pimpin4Paradise
All-American
Keybank is nice if you're wanting to go higher than the standard 80-85% LTV range. I did my last HELOC
through them because they'll go up to 100% LTV. The rates are a bit higher though.
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Pimpin4Paradise
Previous username
ChubbyChaser
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Pimpin4Paradise
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May 2, 2008
Last login
Nov 12, 2022
Total posts
56,121 (5,737 FO)
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Messages
Author
Time
Looking into a HELOC for a home project. Any tips?
ballen
5/28/20 9:06am
My big concern with heloc is almost all are variable rates
cougarfann888
5/28/20 9:16am
Rates will be low for a long time post-Covid. The shutdowns ensured that. If you're worried about it, most HELOCs offer
Pimpin4Paradise
5/28/20 9:20am
Is there another/better alternative?
ballen
5/28/20 9:23am
Better maybe not. Just something to factor In. In some instances a cash out
cougarfann888
5/28/20 9:30am
Cash out refis are very high right now compared to rate and term. If you
johnnybyu
5/28/20 9:51am
Bank of Utah has a no cost HELOC I believe. might be wrong, but theirs is cheap
RealSimsShadY
5/28/20 9:34am
Golden west credit union. Credit unions in general will have the lowest rates.
VenturaCoug
5/28/20 9:43am
I really like KeyBank's product. But there are many banks/CUs with a similar loan.
mulletino
5/28/20 10:28am
Keybank is nice if you're wanting to go higher than the standard 80-85% LTV range. I did my last HELOC
Pimpin4Paradise
5/28/20 10:40am
I just got one at 85% and prime + .1%. So currently 3.35%. Not bad. No fees.
mulletino
5/28/20 10:46am
You're correct, this is a good deal. I should have clarified that I meant the rates are higher if you go with their
Pimpin4Paradise
5/28/20 10:51am
yeah, I've seen them do a 2nd/3rd mortgage combo where the 2nd mortgage is at a decent rate and the 3rd mortgage up to
mulletino
5/28/20 11:30am
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