Re: HELOC Question
Prime rate is pretty standard for HELOC loans. The best offers I've seen are Prime Rate minus 0.5%. Many lenders offer 0.25% reduction in interest rate if you have a checking or savings account with them and sign up for automatic payments. Home Equaty Line of Credit (HELOC) rate is always lower than the Home Equity Loan, which is fixed. If you want to convert your HELOC into a loan with a fixed rate, it's going to be higher than your current rate.
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