Sometime during 2024 they changed their margin from -1.01 to -.51. My HELOC with them is at the old rate. New applicants get -.51 rate.Prime minus 1?
Don't HELOCs usually float around depending on interest rate? I know mine does. This means that even if the work was done years ago, if not paid off, the interest rate on the borrowed money would be just as high right now. The alternative was a 2nd fixed mortgage at the lower rates from several years ago.
To the OP, Third Federal's HELOC rates are usually Prime minus 1%. They also don't resell the servicing of their loans if that matters to you.
If I go to that link now it says Variable APR of Prime -.51%
Statistics: Posted by VCC — Fri Dec 27, 2024 2:17 pm — Replies 10 — Views 2982