Re: Lending rate question
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I am buying a house 70/25/5 with a 25% HELOC that is >100K. Credit is excellent, income easily supports the purchase, full doc, first is a 15-year fixed. They offered 7.25% fixed "5-year" or prime minus one-half on the HELOC. Is that a decent rate? If so, which one is better?
Thanks.
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Both are good rates since you don't have much equity. (LTV>90%)
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Once I sell my current house, I'll have about 35% equity in the new home. What rate drop comes with <90% LTV? Is there another threshold below that at <80% or similar?
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