HELOC with Credit Union- What to expect

[Lolita Ellis]

I applied for a a HELOC with my credit union- the rep has been really "laid back"- that said I finally had the title company send me the docs to review prior to signing but here is what they offered: max amount allowed $81k at 4.65% to adjust quarterly, not to exceed 18% for 15 years. At the end of the 15 years a balloon. I had a plan for the HELOC- not to be complete failure when I start out. What are your thoughts?