FlyerTalk Forums - View Single Post - HELOC
Thread: HELOC
View Single Post
Old Jul 23, 2018 | 7:42 am
  #21  
mia
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
10 Countries Visited
20 Nights
2M
20 Years on Site
 
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,887
Originally Posted by radonc1
....do not think that a bank will pay for them without extracting money from you in some other way (such as making you pay points or charging a substantially higher interest rate).....
In our case the cost was $0, but you are correct that the interest rate formula (prime + X) is higher than others which were available at the time. This served our purpose, because we expect not to use the line, but the interest rate should be a consideration if you are intending to use it.
mia is offline  
Reply