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Needing to get a Home Equity or LOC loan
Posted on 10/10/26 at 7:04 am
Posted on 10/10/26 at 7:04 am
Any places you recommend? Are they all about the same on interest rates?
Posted on 10/10/26 at 9:47 am to Amblin
so what do you want? a HELOC? or home equity loan? they are not the same thing.
You should have a local banker you do business with. see them first. That is where i get all my HELOC, business LOC and personal LOC. I had a home equity loan years back but prefer a HELOC.
You should have a local banker you do business with. see them first. That is where i get all my HELOC, business LOC and personal LOC. I had a home equity loan years back but prefer a HELOC.
Posted on 10/10/26 at 9:56 am to Amblin
the only way you’re going to get a significant discount on current rates is if you have a longstanding high dollar relationship with a bank or credit union or similar. So shop around rates are pretty transparent but don’t expect much difference
Posted on 10/10/26 at 1:00 pm to Amblin
HELOCs are floating rates and you’re only charged as you use or draw down the line of credit.
Home Equity Loans are fixed rates and you get the full amount right away. The interest starts immediately and you pay it off like any other loan or mortgage.
HELOCs are traditionally used more as emergency type loans or as needed.
Home Equity Loans are typically for a large home improvement or large project etc.
Home Equity Loans are fixed rates and you get the full amount right away. The interest starts immediately and you pay it off like any other loan or mortgage.
HELOCs are traditionally used more as emergency type loans or as needed.
Home Equity Loans are typically for a large home improvement or large project etc.
Posted on 10/10/26 at 5:22 pm to TX_Tiger23
Regions HELOC is 6.5% right now but you can lock it in at 7% for multiple years. I think you get 4.5% if you’re a first time borrower. I use my HELOC all the time for house flips and pay it off quickly. Easy and convenient.
Posted on 10/10/26 at 7:31 pm to Drizzt
Great. Not sure why you replied to me. Locked for a few years doesn’t make it a fixed rate. I understand how both type of loans work.
Posted on 10/11/26 at 10:47 am to TX_Tiger23
This would be for home improvement and few other things. So is Home equity get lower interest rates typically? Maybe that is better way? Not sure exactly how much I will need so why the LOC was in there.
Posted on 10/11/26 at 2:52 pm to Amblin
If you don’t know exactly how much you need I’d go with a HELOC.
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