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| *Loan,banking and credit>>>credit line |
Which bank has the best rate for home equity line of credit? |
Which bank has the best rate for home equity line of credit? if you have excellent credit 720+, you can go anywhere to get a loan w/o a broker or middle-man. Best place is National City Home Equity - Just get the # from the website. No appraisal needed and it only costs you $340 for everything w/ lowest rate possible versus going thru a broker, they will either give you a higher rate so they make some $ (called YSP - yield spread premium or rebate) or charge you origination fees. Good luck! Honestly, depends the time of the day you are asking....its not something that stays set....moves based on a series of factors one been the "market conditions" [In other words the offer and demand] ....It is more set for competitive reasons than any other banking experience that all depends on your specific profile (how much money you have in the bank, the value of your house, the mortgage against your house now versus the total appreciation value of your house the equity now minus your mortgage against the house, YOUR FICOS usually Wells Fargo and Citi are the lender's I use for my clients her in Los Angeles,CA Also I use Chase with no closing costs I can set up an equity line for you at no cost, other than maybe an appraisal many time not required: Credit Score: 720+ Loan to value: 70% or less (Total of all your mortgages divided by the value of the home) 1. Prime minus (.25%)* 2. Prime minus (.5%)* if you carry a balance of 25k or greater 3. Prime minus (.75%)* if you carry a balance of 50k or greater ~Danke Schoen Feel free to contact me with any other questions. MrDankeSchoen@yahoo.com 925-250-6067 Mortgage Banker Certified Money Management Volunteer www.NathanEllis.com |
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