Home Equity Lines of Credit | HELOC

Prime minus 1.01% HELOC at Third Federal

admin — Wed, 19 Nov 2008 16:05:06 +0000

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.

4.75% HELOC at Stanford Federal Credit Union

admin — Tue, 09 Sep 2008 19:35:29 +0000

Stanford Federal Credit Union has a nice HELOC promotion going on right now: A HELOC with a three-month 4.75% teaser rate. The rate goes up to Prime+0% after the first three months. This HELOC has no prepayment penalties, no points, no annual fees, and “in most cases, start-up costs are $0.” Lines can be up to 80% line-to-value, up to a maximum of $25,000. The HELOC has a 10-year draw plus a five-year prepayment period.

Stanford Federal Credit Union is open to anyone who is a member of the Stanford University community. Stanford FCU has four locations: three in Stanford, Ca. and one in Palo Alto, Ca.

Prime minus .76% HELOC at Spencer Savings Bank

admin — Mon, 16 Jun 2008 17:06:25 +0000

Spencer Savings Bank has one of the lower variable HELOC rates we’ve seen recently: Their “SpencerFlex” line of credit for owner-occupied properties is Prime - .76%. The home must be a 1-to-4-family New Jersey home, and the HELOC has a minimum conversion balance of $25,000. Lines in excess of $150,000 have application fees starting at $175, and all lines have a conversion fee of $75 (or $125 in the first year). There are also substantial early termination fees.

Spencer Savings Bank has 18 locations, all in New Jersey.

3.99% Intro HELOC at NASA FCU

admin — Thu, 12 Jun 2008 22:22:30 +0000

NASA Federal Credit Union has a nice HELOC offer: 3.99% APR for the first six months, then Prime - .50% for the remainder of the line of credit. You can borrow up to 90% of your home’s value to a maximum of $100,000 or 80% up to $400,000. The HELOC also has no closing costs, points, or fees as long as the line of credit is kept open for 24 months.

NASA Federal Credit Union is open to everyone through membership in the National Space Society for as low as $18. NASA FCU has branches in Maryland, Virginia, and Washington, D.C.

Fixed HELOC at Columbia Bank

admin — Wed, 11 Jun 2008 02:24:32 +0000

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.

2.99% Introductory HELOC at MassMutual FCU

admin — Sat, 07 Jun 2008 12:08:52 +0000

MassMutual FCU has a good HELOC Introductory rate : 2.99% for three months for up to 80% loan-to-value. Up to 90% loan-to-value, the intro rate goes up to 3.99%. After the introductory period, the rate reverts to Prime plus .50%. There are no appraisal fees, annual fees, title fees or application fees with this offer, but it does require a MassMutual FCU checking account.

Mass Mutual FCU is open to employees of MassMutual Financial Group Companies, including Massachusetts Mutual Life Insurance Company and its subsidiaries. MassMutual FCU has three offices , all in Massachusetts.