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 ThirdFederal 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 ThirdFederal 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
ThirdFederal Savings & Loan
Author: Lisa Graham
January 29th, 2009
