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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.]
Fixed HELOC at Columbia Bank
You don’t see a lot of fixed Home Equity Lines of Credit, so I wanted to mention this one: Columbia Bank in Washington and Oregon has a fixed HELOC at 6.25%. The loan has a minimum line of $10,000 and a maximum of $25,000 for a 5-year draw and a 10-year repayment. The loan-to-value can be up to 85%. Closing costs are waved. On the down side, Columbia Bank’s HELOC does have a $75 annual fee and a $300 pre-payment penalty if the loan is closed within 3 years. Also, the HELOC requires auto-pay to be set-up from a Columbia Bank deposit account. Columbia Bank also has a variable HELOC available.
Columbia Bank is based entirely in the Pacific Northwest, with more than 40 banks in Washington and 10 in Oregon.