Comments on: Should we keep shopping for a better interest rate on a Home Equity Loan? http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm Unsecured Loans, Payday Loans, Secured Loans, Student Loans Wed, 20 Jan 2010 18:17:12 +0000 hourly 1 http://wordpress.org/?v=3.1 By: daeve930 http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm/comment-page-1#comment-2254 daeve930 Wed, 16 Dec 2009 07:33:39 +0000 http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm#comment-2254 I used the rate calculators on Bank of America and Wells Fargo websites. I got much better rates, but not 6.5%. That's what you'd see for a 1st mtg, not a home equity loan. The rate may be affected by several factors, including the loan-to-value ratio, and the dollar amount. I used the rate calculators on Bank of America and Wells Fargo websites. I got much better rates, but not 6.5%. That’s what you’d see for a 1st mtg, not a home equity loan.

The rate may be affected by several factors, including the loan-to-value ratio, and the dollar amount.

]]> By: I_know_it_ALL http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm/comment-page-1#comment-2253 I_know_it_ALL Mon, 14 Dec 2009 03:30:58 +0000 http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm#comment-2253 Did the lender say you guys had excellent credit? 10.7 seems a little high, what kind of loan did he/she quote you for? There is tons of different kinds of loan out there, make sure you guys know what kind of loan you guys want. Don't let the loan officer make the decisions for you. And if you guys are not paying for the closing cost, it can be it too. Pay for the closing cost and uasally they will make it cheaper. Plus you can pay points as well, 1point = 1% of loan amount. drop 7% to 6% get it??... But i say if your home is paid for, you might want to look into "Line of equity" this is the only best way that you don't have to pay for closing cost because it acts as a credit card but at the same time the payment is as cheap as a mortgage. Be sure to read everything at the title before you sign!! some things to look for. -Prepaid Penalty -what type of loan it is ex: 2/28, 5/25, 30 yr fix, 15 yr fix -interest rate fix or not? Did the lender say you guys had excellent credit? 10.7 seems a little high, what kind of loan did he/she quote you for? There is tons of different kinds of loan out there, make sure you guys know what kind of loan you guys want. Don’t let the loan officer make the decisions for you. And if you guys are not paying for the closing cost, it can be it too. Pay for the closing cost and uasally they will make it cheaper. Plus you can pay points as well, 1point = 1% of loan amount. drop 7% to 6% get it??… But i say if your home is paid for, you might want to look into “Line of equity” this is the only best way that you don’t have to pay for closing cost because it acts as a credit card but at the same time the payment is as cheap as a mortgage. Be sure to read everything at the title before you sign!! some things to look for.

-Prepaid Penalty

-what type of loan it is ex: 2/28, 5/25, 30 yr fix, 15 yr fix

-interest rate fix or not?

]]> By: Wayne Z http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm/comment-page-1#comment-2252 Wayne Z Fri, 11 Dec 2009 14:23:48 +0000 http://www.lowrateloans.me.uk/secured-loan/should-we-keep-shopping-for-a-better-interest-rate-on-a-home-equity-loan.htm#comment-2252 Keep shopping. Try some of the online banks: Etrade INGDirect etc. Keep shopping.

Try some of the online banks:

Etrade
INGDirect
etc.

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