Home equity loans

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What is the best way to find the lowest home equity loan in South Florida?

I looked at lending tree but from what I read they charge a floating origination fee and send info to all matched lenders who all do hard pulls then call you to get your loan with them.

it will only be for 20-30k. Home remodel.

Penfed, which is the lowest for other loans in my experience is 3.74 which seems so high!!

Credit score is excellent home is worth about 300k.

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call your local credit unions

Yeah that was kinda mine first move. Local. Looking to cast a wider net but thank you!!

3.74% sounds good on a home equity. You're not going to get the same kind of rates as you will with a first.

vegas4x4 said:   3.74% sounds good on a home equity. You're not going to get the same kind of rates as you will with a first.
  I have to pay 8% on a home equity around here!

vegas4x4 said:   3.74% sounds good on a home equity. You're not going to get the same kind of rates as you will with a first.
 

  
Agreed.  The only other thing you can do is try to find a teaser rate for the first year or two.  Mine is 1.75% for the first 2 years but then it goes up significantly.

I'd use credit cards and flip it on balance transfer before I wasted time on a home equity loan at those rates and small amount.

Thrid Federal is 2.99 to 3.24% and I think they either pay all costs or most costs.  

I agree with Chyvan, I'm doing a remodel now and I'm using Discover with free money until Oct 2017 with a 2% transfer fee.

The downside of using BTs is that the rate is only good for 12-18 months then you gotta move it again. And you can't deduct the BT fee on your 1040s like you can a home equity loan interest


Huntington has $75k HELOCs at 3.49% variable with good FICO. I believe you get a .15% discount for autopay from a Huntington checking account. $60 annual fee, no origination fees, no early closing fee if you keep the account open for 3 years. Their fixed HELs are over 5%, I'd rather play the BT game than pay that much.
https://www.huntington.com/Personal/home-equity-comparison/home-...

taxmantoo said:   , I'd rather play the BT game than pay that much.

 

  BT is not fixed rate and you have to keep moving it .

I'm only seeing high rates 7%+ for that small of a loan. As others have said you would probably be better off floating 0% for a few years.

DPG said:   I'm only seeing high rates 7%+ for that small of a loan. As others have said you would probably be better off floating 0% for a few years.
  He doesn't mention how much equity he has on the house.  He can always take out as big of a loan (or as big of a line of credit) as necessary to get the best rate, and immediately use the extra proceeds to pay down the balance.

rufflesinc said:   
taxmantoo said:   , I'd rather play the BT game than pay that much.

 

  BT is not fixed rate and you have to keep moving it .

  
BT is a fixed rate of 0% for almost 2 years.  Hopefully OP can pay off $20K in that time and if not just move the remaining balance to another 0% card.

kriskos4 said:   
rufflesinc said:   
taxmantoo said:   , I'd rather play the BT game than pay that much.

 

  BT is not fixed rate and you have to keep moving it .

  
BT is a fixed rate of 0% for almost 2 years.  Hopefully OP can pay off $20K in that time and if not just move the remaining balance to another 0% card.

  You can't deduct the BT fee (2-3%), while you can deduct the home equity interest. So how much is OP really saving?



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