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[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
Prime minus 1.01% HELOC at Third Federal
Third Federal Savings & Loan is currently offering a low HELOC rate: Prime – 1.01%. This rate is avaialble on all balances from $50,000 to $200,000. Balances from $10,000 to $49,999 have the rate of Prime – 0.51%. The line can be up to a 80% loan-to-value. There is no minimum advance or draw, and there are no application fees, closing costs, annual fees, or prepayment penalties. The line has a 10-year draw plus a 10-year repayment.
One other interesting thing about Third Federal’s HELOCs: If you apply for a Third Federal HELOC, and you bring proof of a home equity line of credit with a lower rate, they’ll either beat it or give you $1000. Of course, the comparative HELOC must be for the same property, term, line amount and have the same prepayment or early termination policy, as well as having the same, or lower amount of fees or costs.
Third Federal Savings & Loan has branches in Ohio and Florida.