Home › Forums › Closed Forums › Buying and Selling RE › Best Heloc rate
- This topic has 14 replies, 6 voices, and was last updated 3 years, 1 month ago by
trips123.
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AuthorPosts
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June 28, 2021 at 8:25 PM #23093June 28, 2021 at 9:16 PM #822312
Coronita
Participantholy shet. that is good.
June 28, 2021 at 9:16 PM #822313Coronita
Participant.
June 28, 2021 at 9:40 PM #822316sdrealtor
ParticipantYup found that right after i closed mine. I’ve got a family member I sent to them. Hers is closing this week. Took about 60-75 days. Got a $50k HELOC just to have for peace of mind
June 29, 2021 at 2:57 PM #822330gzz
ParticipantDo it now and put it all into bonds that yield 6%. What could go wrong?
June 30, 2021 at 2:40 PM #822352barnaby33
ParticipantJust got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
JoshJune 30, 2021 at 2:53 PM #822353sdrealtor
Participant[quote=barnaby33]Just got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
Josh[/quote]No loan mod?
June 30, 2021 at 2:53 PM #822354sdrealtor
Participant[quote=barnaby33]Just got a HELOC from third federal as well. The rate floats daily with Prime though, so borrower beware!
Josh[/quote]No loan mod?
June 30, 2021 at 3:00 PM #822356barnaby33
ParticipantSDR, I’m unsure what you mean? I didn’t refi beforehand no, so I am stuck with my 2.8 15 year fixed.
JoshJune 30, 2021 at 3:13 PM #822359gzz
ParticipantI just got a no-cost 15 year fixed mortgage for 2.375
June 30, 2021 at 3:14 PM #822361sdrealtor
ParticipantJust giving you the business π
July 1, 2021 at 2:04 PM #822365barnaby33
ParticipantJust giving you the business π
which is fine, if I understood what your/it/my business is! Context is key, but grammar is so important!
July 7, 2021 at 2:39 PM #822397trips123
ParticipantIt appears Third Federal does not give HELOC if the home is held in a family trust. Heard about this kind of restriction for the first time.
Anyone is able to get HELOC at good rates from any other Bank/CU which do not have such restriction.July 7, 2021 at 3:31 PM #822398sdrealtor
ParticipantAn entity cant take out a mortgage. You have to take it out of the trust for the refi then once it closes you quit claim it back in. It is done every day
July 7, 2021 at 3:47 PM #822400trips123
ParticipantGot it. Thanks.
Yes, that is how it was for mortgage loan refinance.I was hoping bank will do it by themselves during the HELOC process, but it appears I would need to move the home out of the trust myself first with Third Federal.
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