Home equity
Is a home equity line of credit better or a fixed loan?
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I would say no right now.
with the impending downgrade, you will see rates go up. HELOC's are not locked in as I understand them. I would go for a fixed rate NOW before the rates jump. I just did it. |
It is not locked in. It is 2 points above prime.
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Our HELOCS have a lock option. Interest rates are typically lower too bc of the equity being used as collateral.
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