FSBO,
Not only is it “too good to be true”
IT ISN’T TRUE….

The fine print isn’t confusing to me.. it’s just the FINE PRINT

Based upon the current Prime Rate, your rate may be as low as 4.25%. Rate is based upon credit criteria. Your rate may be higher. Although your fully-indexed rate is subject to change monthly, the Prime Rate may change at any time. The maximum APR is 15.00%. The minimum APR is 3.50%

IF YOU QUALIFY, it’s prime minus .75% with a floor rate of 3.50% and a max rate of 15.00%

10 YR interest only & draw period, followed by a 15 YR (P&I)repayment period.

Sorry to burst your bubble, it’s NOT a fixed 25 YR 2nd at 4.50%, (Unless prime stays below 5.25%!)

It is a standard decent rate for a HELOC. Prime could be 10% in a few years, who knows. Do ya feel lucky ?

I recommend large HELOCS to people who need the loan and could pay them off with liquid assets if they had to, if the rates get silly. Up to $250,000 they are easier to get than over $250K.

It’s a gamble to take a large amount for the long term, but could still work out. Hindsight will tell.

Adjustable rates are normally in the house’s favor, and the borrower isn’t the house.