Home Equity Line of Credit (HELOC)

home-equity-line-of-credit-helocMortgage rates and home equity line of credit rates are so low now we just found another great deal. Third Federal Savings & Loan is offering a home equity line of credit (HELOC) with a 2.99% APR for balances larger than $50,000. The HELOC rate of 2.99% is prime minus .25 percent. For HELOC balances under $50,000 the rate is 3.25% APR, prime minus .00 percent.

These rates are not introductory rates or teaser rates, the rate you receive when you open the line of credit is the rate you receive for the life of the line of credit.

HELOC benefits:

Loan Term
Lender
APR / Rate
Fees / Points
Payment
Equity Capital Home Loans
NMLS #1689962
License: 02053435
5.680%
15-Year Fixed
5.500%
$4,694
Includes 0.911 points for $3,644
Lender Fees: $1,050
$3,269 /mo
Truss Financial Group
NMLS #2006915
License: 60DBO-149268
5.685%
15-Year Fixed
5.500%
$4,821
Includes 0.719 points for $2,876
Lender Fees: $1,945
$3,269 /mo
Statewide Funding
NMLS #1105497
License: 603L227
5.713%
15-Year Fixed
5.500%
$5,619
Includes 1.000 points for $4,000
Lender Fees: $1,619
$3,269 /mo
PenFed Credit Union
NMLS #401822
5.768%
15-Year Fixed
5.500%
$7,000
Includes 0.750 points for $3,000
Lender Fees: $4,000
$3,269 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.781%
15-Year Fixed
5.625%
$4,056
Includes 0.839 points for $3,356
Lender Fees: $700
$3,295 /mo
GenNext.Mortgage
NMLS #2326098
License: 60DBO-181478
5.787%
15-Year Fixed
5.625%
$4,381
Includes 0.607 points for $2,428
Lender Fees: $1,953
$3,295 /mo
Bison State Bank
NMLS #757416
5.833%
15-Year Fixed
5.750%
$2,156
Includes 0.539 points for $2,156
Lender Fees: $0
$3,322 /mo
GenNext.Mortgage
NMLS #2326098
License: 60DBO-181478
6.379%
5-Year ARM
6.250%
$5,673
Includes 0.930 points for $3,720
Lender Fees: $1,953
$2,463 /mo
Truss Financial Group
NMLS #2006915
License: 60DBO-149268
6.507%
5-Year ARM
6.375%
$5,537
Includes 0.898 points for $3,592
Lender Fees: $1,945
$2,496 /mo
DECO Mortgage
NMLS #2561451
6.588%
30-Year Fixed
6.490%
$4,151
Includes 0.539 points for $2,156
Lender Fees: $1,995
$2,526 /mo
Truss Financial Group
NMLS #2006915
License: 60DBO-149268
6.642%
30-Year Fixed
6.500%
$5,945
Includes 1.000 points for $4,000
Lender Fees: $1,945
$2,529 /mo
Bison State Bank
NMLS #757416
6.714%
30-Year Fixed
6.624%
$3,704
Includes 0.926 points for $3,704
Lender Fees: $0
$2,561 /mo
Equity Capital Home Loans
NMLS #1689962
License: 02053435
6.727%
30-Year Fixed
6.624%
$4,266
Includes 0.804 points for $3,216
Lender Fees: $1,050
$2,561 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.732%
30-Year Fixed
6.625%
$4,440
Includes 0.935 points for $3,740
Lender Fees: $700
$2,562 /mo
GenNext.Mortgage
NMLS #2326098
License: 60DBO-181478
6.840%
30-Year Fixed
6.750%
$3,861
Includes 0.477 points for $1,908
Lender Fees: $1,953
$2,595 /mo
Statewide Funding
NMLS #1105497
License: 603L227
6.849%
30-Year Fixed
6.750%
$4,119
Includes 0.625 points for $2,500
Lender Fees: $1,619
$2,595 /mo
HSBC Bank USA, N.A.
NMLS #399799
6.856%
30-Year Fixed
6.750%
$4,512
Includes 0.796 points for $3,184
Lender Fees: $1,328
$2,595 /mo
PenFed Credit Union
NMLS #401822
6.896%
30-Year Fixed
6.750%
$5,995
Includes 1.000 points for $4,000
Lender Fees: $1,995
$2,595 /mo
Better.com
NMLS #330511
6.941%
30-Year Fixed
6.875%
$2,700
Includes 0.675 points for $2,700
Lender Fees: $0
$2,628 /mo
Rocket Mortgage
NMLS #3030
6.995%
15-Year Fixed
6.875%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$3,568 /mo
Rocket Mortgage
NMLS #3030
7.689%
30-Year Fixed
7.625%
$2,500
Includes 0.625 points for $2,500
Lender Fees: $0
$2,832 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

  • NO Application Fee
  • NO Closing Cost
  • NO Doc/Stamp Tax (Florida)
  • NO Origination Fee
  • NO Pre-Payment Penalty
  • NO First-Year Annual Fee

There isn't a minimum advance or draw required when opening the line of credit. Third Federal also guaranteed to be the lowest rate anywhere or Third Federal will give you $1,000.

This post was featured on //greenerpastures.responsiblepersonalfinance.com/2009/04/08/the-money-hacks-carnival-59-the-duct-tape-edition/

 
Author: Brian McKay
April 5th, 2009

Explore Other Mortgage and Refinance Offers