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Updated over 7 years ago on . Most recent reply
1.9% HELOC really exist?
Hello everyone,
I recently was listening to the Clayton Morris podcast and he mentioned that he was able to get a HELOC at 1.9% for one year. I live in California and I have never seen this rate. My credit score is excellent (750+) so if anyone that lives in California finds this kind of rate, please let me know! Or does that rate only exist outside of CA?
Kenneth
Most Popular Reply
@Kenneth Hong, introductory Rates can be a blessing - or a CURSE! Mostly it depends on how DISCIPLINED you are to use it successfully (ie. pay it off COMPLETELY in a year). My guess is that AFTER the year is over, it'll revert to a can-increase-ANYtime Rate that will prove to be NOT particularly competitive.
My thesis suggests: they're not REALLY intending that you get to enjoy a free lunch. Good luck...