When shopping for the best rate on a home equity loan what are the key questions to ask the potential lender?

Jun 07, 2007 by SVDBYGRC | Posted in Personal Finance


Well first of all interest rates aren't everything. Most banks will give you relationship discounts. This means if you have tons of things with the bank already they will give you a small interest rate discount. In addition, if you keep a large amount

gotcha212 | Jun 07, 2007

Well first of all interest rates aren't everything. Most banks will give you relationship discounts. This means if you have tons of things with the bank already they will give you a small interest rate discount. In addition, if you keep a large amount
gotcha212 | Jun 07, 2007

I live in Canada, What is a good interest rate on home equity loan?

Apr 03, 2009 by Scott B | Posted in Credit

I have a good credit score and I have about 30,000 equity in my home...I'm looking for a good line of credit without any fees to start up. Which lender should I borrow from for the absolute best interest rate? RIght now TD says they'll offer me prime

There are a lot of benefits when you have a home equity. First of all, it increases the value of your home. Moreover, you can make use of it so you will be able to improve your credit rating should you decide to apply for a home equity loan.nBut do you

Brooke | Apr 03, 2009

Home equity loans

Simple example of borrowing from equity to fuel consumption

What the federal budget crisis and possible default may mean for consumers

28.07.11

The debate in Washington over the federal budget crisis and possible default has given rise to all sorts of consumer fears of doomsday scenarios. Missed Social Security payments. Spikes in interest rates. Draconian cuts in government services. But the most likely outcome is that the nation's credit rating will be downgraded a notch from its sterling triple A rating. Here are some potential consequences for consumers:

Higher lending rates

Americans will pay more on credit card debt. Home and car loan interest rates will rise, too. Numerous economic forecasters predict an immediate rate increase of at least 1.5 percentage points on consumer interest — adding nearly $20,000 to the cost a $175,000, 30-year home mortgage. Lots of U.S. lending rates are based at least in part on the interest rates on U.S. government bonds. If there's a ratings downgrade and U.S. bond yields rise, that will spill over eventually into lending rates. But as Greg McBride, a senior financial analyst at Bankrate.com, said, lenders must give borrowers at least 45 days' notice before raising their credit card interest rate, and can only raise it on new balances.

Source: Tampabay.com

best home equity loan rate - Bookshelf


Kiplinger's Personal Finance
124 pages 		Kiplinger's Personal Finance

1995-05
The tables at left show some of the best deals in home-equity lines of credit ... The rate on Bank of America's 15-year home- equity loan is a fixed 9.88% ...
New York Magazine
176 pages 		New York Magazine

1987-10-19
"There are best banks and best home- equity loans for different situations. ... offers two rates on its credit- line home-equity loan: 1.5 percent over ...
Popular Mechanics
174 pages 		Popular Mechanics

1987-07
The average line of credit on home equity loans is about $40000 — giving reckless ... lending rate, the rate banks charge to their best business customers. ...

Q&A: I Have a variable rate Home Equity loan . The Interest rates ...

by admin

If your house is worth a good bit more than the balance on your mortgage, pluse the amount owed on the equity line, and you’ve got good credit, you could refinance the whole she-bang and get into a fixed-rate loan. If you’re not in love with your house, you could sell it and find something else and, again, lock in on a fixed rate loan. As a realtor, I say do the second ! As for best rates… it depends on your credit, usually local small banks can do more for you, but in addition to that, check with a few mortgage BROKERS, who are able to shop around with numerous other companies, as opposed to mortgage LENDERS who work for one particular company. Also be aware that most mortage loan officers work on commission and may steer you to products that are most profitable to them. So if you have a friend or relative in the business, start there… they will be more likely to find you the best deal possible.

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best home equity loan rate - News


4 Dumbest Things to Do If You're Deep in Debt
WalletPop - Jul 27, 2011
4 Dumbest Things to Do If You're Deep in Debt Use a home equity loan to "fix" a deeper debt problem. So you've got a house with some equity in it and you're thinking about using a home equity loan or home equity line of credit to pay off your mounting credit card debt, huh?

What the federal budget crisis and possible default may mean for consumers
Tampabay.com - Jul 28, 2011
Home and car loan interest rates will rise, too. Numerous economic forecasters predict an immediate rate increase of at least 1.5 percentage points on consumer interest — adding nearly $20000 to the cost a $175000, 30-year home mortgage.

IBERIABANK Corporation Reports Second Quarter Results
MarketWatch (press release) - Jul 27, 2011
The average credit score of the legacy consumer loan portfolio was 725, and consumer loans past due 30 days or more were 0.42% of total consumer loans at June 30, 2011 (compared to 0.28% at March 31, 2011). Legacy home equity loans totaled $449 million

Some golden investment tips
Rediff - Jul 28, 2011
Some golden investment tips Renny asked, Dear Sir, recently Citi bank aprooved a loan of Rs. 2L at the rate of interest 11.5% reducing Balance for four years. I am planning to get this load and invest. Can you suggest which one i go for? which will be the best return of money?

Experts Advise Snapping Up Fixed Rate Mortgages
Money High Street - Jul 28, 2011
With the Bank of England expected to hold the base rate at 0.5% until beyond this time next year, lenders have lowered the price of new home loan deals to their cheapest ever levels. With the rates on five-year fixed-rate deals dropping to below 4%,

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