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Message
re: Bank recs for HELOC- New Orleans
Posted on 2/18/14 at 10:02 am to hawkeye007
Posted on 2/18/14 at 10:02 am to hawkeye007
You can also apply for a takedown to fix the interest rate on a set principal amount. Payments on the principal would then be added to your available draw.
1
Posted on 2/18/14 at 10:12 am to Dead Mike
quote:
You can also apply for a takedown to fix the interest rate on a set principal amount.
I'm unfamiliar with a "takedown". Could you explain further?
quote:
Payments on the principal would then be added to your available draw.
Isn't this standard OP, for a fixed or adjustable rate LOC? At least for a period of time, 5 yrs or so.
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