Johny Utah Posted March 16, 2011 Report Share Posted March 16, 2011 My home loan is 5.25% right now. Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted March 16, 2011 Report Share Posted March 16, 2011 WTF....what exactly are you trying to do...borrow against your home, personal cash loan, what? It doesn't sound good though... Quote Link to comment Share on other sites More sharing options...
Sully Posted March 16, 2011 Report Share Posted March 16, 2011 I just got off the phone w/ my bank. I'm refinancing my house, but only because I'll get a better interest rate and going to a 15 yr loan. Anywho, I'm getting a 4.125% rate on this 15 yr loan. If I would have went with another 30 yr loan, the rate would have been 4.75%. This is with Fifth Third. If you are interested in talking to the lady I'm working with, PM me for her number. Quote Link to comment Share on other sites More sharing options...
harmonda Posted March 16, 2011 Report Share Posted March 16, 2011 I'm going to guess you won't find a decent lender who will do a refi where you take equity out of your home right now given that values are still unstable. Also...an equity line won't have the prime rate. It will have a premium...that's how they make real money. I don't mean to be a dark cloud but we aren't out of the woods yet. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted March 16, 2011 Report Share Posted March 16, 2011 LTV/appraisal of your home is going to play more into how much you can cash out than what the rate is. If you own a $140k home in Groveport with a current appraised value at $125k, no one will touch you, regardless of how much you want to borrow. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted March 17, 2011 Report Share Posted March 17, 2011 LTV/appraisal of your home is going to play more into how much you can cash out than what the rate is. If you own a $140k home in Groveport with a current appraised value at $125k, no one will touch you, regardless of how much you want to borrow. This. Shoot me a call and we can discuss your situation in more detail. I am a loan officer with Union Savings Bank and have helped/am helping a few members on the board. 614-327-8085. -Marc Quote Link to comment Share on other sites More sharing options...
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