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What is out of pocket expense of home equity line of credit?



What is out of pocket expense of home equity line of credit?

home equity line of credit sucks. It's like a credit card with your home. Low rate, but it's revolving. Watch out for that!! Not good stuff.
Depends on the institution.

Some have application fees, some have yearly fees, some have fees if you close them within three years.

But there are ones that have no application fees, no minimum draw, no yearly fees, and no early closure fees.

Try the major banks: Wells Fargo, Citibank, JPMChase, Banc of America, HSBC - have a look at your large local banks too.

Sometimes, local banks MAY match terms to get your business.

For indication, I have a link to bankrate on my website - you can use this to compare - it DOES NOT list everyone - but it will give you an idea and it is a good place to start your research.

Good Luck!
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www.simplemoneyadvice.net
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