Thrid Federal Home Equity Line Promo

Third Federal Savings and Loan is offering an incredible deal on a home equity line of credit (HELOC).

The current rate is 2.60%, that's prime minus .65%. The rate is for the life of the loan, it's NOT an introductory rate! Most banks offer prime (currently 3.25%) plus 1.00% or higher. The current national average rate on a home equity line of credit is around 5.00%.

In addition to the great rate Third Federal will also give you $100 in free gas. Also, if you find a lower rate on a similar home equity loan Third Federal will beat the rate or give you $1,000.

The 2.60% rate is for balances of $50,000 and more. The rate for balances $10,000 to $49,000 is prime minus .10, currently 3.15% APR.

As with most banks these days Third Federal will only allow you to borrow up to 80% of the value of your home, lone-to-value ratio (LTV).

Additional home equity line of credit (HELCO) benefits.

  • No closing costs
  • No Application fees
  • No annual fee
  • No prepayment penalty
  • No advance or draw required

Third Federal Savings & Loan

Author: Lisa Graham
January 29th, 2009