Replies to post #108463 on Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Wow, it seems like they're soaking you on that one. I'm no expert on the home equity stuff. The variable rate ones are usually available at around the prime rate.

[augieboo]

Babylon, have you tried BankRate.com?

http://www.bankrate.com

Currently they list five lenders with equity loans between 4.5% and 4.99%. Those are the very best in the country, and may not be available where you are, etc., but I think 8.5% just plain SUCKS!

[gottfried]

Babylon, for good mortgage rates try https://www.mortgage.com/C3/application.bus

Gottfried

[Newly2b]

Washington Mutual is advertising a home equity line of credit at 4.25% today. Rates vary around the country so your mileage may vary, but 8 1/2% is just plain ridiculous. You can do better, much better IMO. Most are now prime + zero.

Newly

[Train Guy]

Are you doing a jumbo loan? You can do no doc loans right now, cash out, under 70% for around 6%. I did one in Dec at 6.25% and 1% origination. But here's a trick. I can now do a rollover refi, no cash out, but roll closing costs in, no doc, for 5.5% and no points/origination. And when you get no cash out you can go up to 75% LTV. If it gets to 5 3/8% I'm going to jump all over that. And a no doc is basically, sign here. Credit score and LTV are most important thing. And since I just did the loan in Dec, I'm going to see if I can get some of the closing fees reduced since I'll use the same people.