Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago,
Re: HELOC rate comparison
Hi,
Both credit unions for a 500K HELOC is with no closing cost (lender covering it).
Credit Union 1: Rate is prime rate +1%, 10 year draw period. Introductory rate for 1st 12 months is 3.99%.
Credit Union 2: Rate is prime rate + 0.75%, 15 year draw period. No introductory rate.
Which HELOC is better?
I will not need all the 500K as I already have 250K in savings. I just requested more than I think I would need. I don't have a property under contract yet.