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Pro tip: People keep forgetting to check their HELOC rates before a cash out refi
I saw a friend in Denver almost lock a 7.5% refi last month when his existing HELOC was still at 5.9%. He could have just drawn on that line instead and saved a ton on closing costs. Has anyone else caught this before pulling the trigger?
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troyh5512d ago
Who needs a refi when you have a cheaper line?
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barbaraw1612d ago
A line is great for short-term cash, but refi rates lock in long-term savings... my HELOC jumped two points last year. Fixed the payment with a refi before it got worse.
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