What is todays interest rate on a fixed rate home equity line of credit?
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I am asking because I am really nervous about applying for home equity for a roof starting very soon-probably next week.
My roof is leaking.
What is todays interest rate on a fixed rate home equity line of credit?My credit union is currently charging anywhere from 6.5 percent for a 5-year loan up to 7.25 percent for a 20-year loan. You should probably check with whatever bank you're planning to borrow from, since I'm sure rates vary from one part of the country to another.
You might get the best rate if you try the bank that you currently have your mortgage with, especially if you explain why you need the loan. It's in their best interest to make sure your house stays in good shape.
What is todays interest rate on a fixed rate home equity line of credit?Check out bankrate.com
Click on the Home Equity tab in the little mortgage rate box on the right side about halfway down the page.
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