Third Federal HELOC?

[Brian Barbuscia]

I am currently evaluating various HELOC products for BRRRR purposes and i am curious if anyone has used this HELOC product?

https://www.thirdfederal.com/borrowing/home-equity...

Prime -1.01% variable (4.49% currently) seems incredible (almost too good to be true) given everyone in my area (eastern washington) seems to want 5.5%-8.5% 

I appreciate any input!

[Jack Martin]

I have an existing HELOC through Third Federal. It is currently at around 4.5%. It started as a 10 year interest only $317 per month. After 10 years it now is amortizing on a 10 year schedule meaning that the payment is now $1700 per month. Looking to get out of it now. So that's about right, they will qualify you using normal qualification methods. This is for an Owner occupied property so make sure they know that it is an investment property.