Current Rates for HELOC

[Zack Clopper]

Hi everyone,

Since joining 2 months ago I applied for a HELOC through SunTrust on my primary residance as i like doing business with them. The appraisal came back this week at 140k and I owe a little over 99k so they approved me for 12,900.

I thought the house value would have came back more but cant complain since only been here for two years and haven't put much money in. 

When SunTrust told me the rate though I thought it was real high from what I been reading but could be wrong they told me 4.25% plus prime which is 4%. that brings the loan up to over 8%. I haven't accepted yet and thought about trying a different bank but wanted opinions on here. 

I am in Baltimore County and would love to get others advice if they did a HELOC nearby on a primary residance.

Thanks