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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
Future First Lending
NMLS #2126430
4.764%
15-Year Fixed
4.625%
$3,695
Includes 0.625 points for $2,500
Lender Fees: $1,195
$3,086 /mo
Home Simply
NMLS #2473786
4.775%
15-Year Fixed
4.625%
$4,015
Includes 0.730 points for $2,920
Lender Fees: $1,095
$3,086 /mo
Different Mortgage
NMLS #324599
License: 324599
4.812%
15-Year Fixed
4.625%
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$3,086 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
4.874%
15-Year Fixed
4.750%
$3,308
Includes 0.827 points for $3,308
Lender Fees: $0
$3,112 /mo
Bison State Bank
NMLS #757416
4.898%
15-Year Fixed
4.750%
$3,944
Includes 0.986 points for $3,944
Lender Fees: $0
$3,112 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
4.918%
15-Year Fixed
4.750%
$4,539
Includes 0.858 points for $3,432
Lender Fees: $1,107
$3,112 /mo
Farmers Bank of Kansas City
NMLS #613839
4.953%
15-Year Fixed
4.750%
$5,407
Includes 0.880 points for $3,520
Lender Fees: $1,887
$3,112 /mo
Home Simply
NMLS #2473786
4.972%
5-Year ARM
4.875%
$4,451
Includes 0.839 points for $3,356
Lender Fees: $1,095
$2,117 /mo
Allied Mortgage Group, Inc.
NMLS #1067
4.978%
15-Year Fixed
4.875%
$2,732
Includes 0.683 points for $2,732
Lender Fees: $0
$3,138 /mo
Future First Lending
NMLS #2126430
4.983%
5-Year ARM
4.875%
$4,951
Includes 0.939 points for $3,756
Lender Fees: $1,195
$2,117 /mo
Zoom Loans
NMLS #1312186
5.007%
15-Year Fixed
4.875%
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$3,138 /mo
New American Funding, LLC.
NMLS #6606
5.260%
15-Year Fixed
5.125%
$3,548
Includes 0.887 points for $3,548
Lender Fees: $0
$3,190 /mo
Zoom Loans
NMLS #1312186
5.336%
5-Year ARM
5.250%
$3,868
Includes 0.967 points for $3,868
Lender Fees: $0
$2,209 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
5.473%
5-Year ARM
5.375%
$4,423
Includes 0.829 points for $3,316
Lender Fees: $1,107
$2,240 /mo
Different Mortgage
NMLS #324599
License: 324599
5.483%
5-Year ARM
5.375%
$4,886
Includes 0.954 points for $3,816
Lender Fees: $1,070
$2,240 /mo
Future First Lending
NMLS #2126430
5.583%
30-Year Fixed
5.500%
$3,695
Includes 0.625 points for $2,500
Lender Fees: $1,195
$2,272 /mo
Home Simply
NMLS #2473786
5.587%
30-Year Fixed
5.490%
$4,295
Includes 0.800 points for $3,200
Lender Fees: $1,095
$2,269 /mo
Different Mortgage
NMLS #324599
License: 324599
5.613%
30-Year Fixed
5.500%
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,272 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.682%
30-Year Fixed
5.625%
$2,508
Includes 0.627 points for $2,508
Lender Fees: $0
$2,303 /mo
Allied Mortgage Group, Inc.
NMLS #1067
5.686%
30-Year Fixed
5.625%
$2,684
Includes 0.671 points for $2,684
Lender Fees: $0
$2,303 /mo
Bison State Bank
NMLS #757416
5.696%
30-Year Fixed
5.625%
$3,120
Includes 0.780 points for $3,120
Lender Fees: $0
$2,303 /mo
Farmers Bank of Kansas City
NMLS #613839
5.726%
30-Year Fixed
5.625%
$4,447
Includes 0.640 points for $2,560
Lender Fees: $1,887
$2,303 /mo
Zoom Loans
NMLS #1312186
5.842%
30-Year Fixed
5.750%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$2,335 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
5.854%
30-Year Fixed
5.750%
$4,619
Includes 0.878 points for $3,512
Lender Fees: $1,107
$2,335 /mo
New American Funding, LLC.
NMLS #6606
5.958%
30-Year Fixed
5.875%
$3,592
Includes 0.898 points for $3,592
Lender Fees: $0
$2,367 /mo
HSBC Bank USA, N.A.
NMLS #399799
5.970%
30-Year Fixed
5.875%
$4,284
Includes 0.739 points for $2,956
Lender Fees: $1,328
$2,367 /mo
Rate data provided by RateUpdate.com. Displayed by 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

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