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Any recent fixed rate HELOC experiences?


Any recent fixed rate HELOC experiences?

Old 11-07-2014, 09:08 AM
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Join Date: Oct 2009
Location: FL Gulf Coast & NYC
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Default Any recent fixed rate HELOC experiences?

I'm considering a HELOC for some home improvements but I believe prime will rise in the not too distant future, making a variable rate loan a risky proposition.

TD Bank has a fixed rate HELOC option (this is still a HELOC, not Home Equity Loan) with a 15 year fixed rate of 4.49%. There is only a $99 loan origination fee and a $50 annual fee after the first year. Principal will be repaid on the fixed rate option during the draw period. There is no early repayment penalty and the line of credit can be terminated with no penalty after three years.

Seems pretty attractive. Has anyone elected for a similar loan recently? How did your terms compare?

TipsyMcStagger is offline  
Old 11-07-2014, 05:28 PM
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Join Date: May 2013
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I was wondering too if rates will rise but I really wonder and am going to bet they won't for a decade. Literally. I think this countries problems aren't going away for a long time if ever. We import almost everything, job outlook is bleak ( I don't see us making saysTVs here again ever), and the freebies are over the top (they almost can't cut the animals off now) so I think nothing will change for 10+ years hence rates won't go anywhere - they simply can't.
ladams1 is offline  

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