Best Heloc rate

User Forum Topic
Submitted by Escoguy on June 28, 2021 - 8:25pm

This is the best Heloc rate I've found:

https://www.thirdfederal.com/borrowing/h...

2.24%

If anyone knows better, would be nice to know, might get one in next year or two.

Submitted by Coronita on June 28, 2021 - 9:16pm.

holy shet. that is good.

Submitted by Coronita on June 28, 2021 - 9:16pm.

.

Submitted by sdrealtor on June 28, 2021 - 9:40pm.

Yup found that right after i closed mine. I've got a family member I sent to them. Hers is closing this week. Took about 60-75 days. Got a $50k HELOC just to have for peace of mind

Submitted by gzz on June 29, 2021 - 2:57pm.

Do it now and put it all into bonds that yield 6%. What could go wrong?

Submitted by barnaby33 on June 30, 2021 - 2:40pm.

Just got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
Josh

Submitted by sdrealtor on June 30, 2021 - 2:53pm.

barnaby33 wrote:
Just got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
Josh

No loan mod?

Submitted by sdrealtor on June 30, 2021 - 2:53pm.

barnaby33 wrote:
Just got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
Josh

No loan mod?

Submitted by barnaby33 on June 30, 2021 - 3:00pm.

SDR, I'm unsure what you mean? I didn't refi beforehand no, so I am stuck with my 2.8 15 year fixed.
Josh

Submitted by gzz on June 30, 2021 - 3:13pm.

I just got a no-cost 15 year fixed mortgage for 2.375

Submitted by sdrealtor on June 30, 2021 - 3:14pm.

Just giving you the business ;)

Submitted by barnaby33 on July 1, 2021 - 2:04pm.

Just giving you the business ;)

which is fine, if I understood what your/it/my business is! Context is key, but grammar is so important!

Submitted by trips123 on July 7, 2021 - 2:39pm.

It appears Third Federal does not give HELOC if the home is held in a family trust. Heard about this kind of restriction for the first time.
Anyone is able to get HELOC at good rates from any other Bank/CU which do not have such restriction.

Submitted by sdrealtor on July 7, 2021 - 3:31pm.

An entity cant take out a mortgage. You have to take it out of the trust for the refi then once it closes you quit claim it back in. It is done every day

Submitted by trips123 on July 7, 2021 - 3:47pm.

Got it. Thanks.
Yes, that is how it was for mortgage loan refinance.

I was hoping bank will do it by themselves during the HELOC process, but it appears I would need to move the home out of the trust myself first with Third Federal.

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