| Re: Home Equity Loan
Heck yes, 30 year fixed rate, HELOC goes up, up and up....fast to get, easy to abuse.....
Get a 30 year fixed rate loan, up hill down hill same payment for Principle and Interest, not so for the doggoned HELOC or HELOAN. Rotten product for anyone....ROTTEN.
Now age is not a consideration it is known as, discrimination if we take that into consideration....very big discrimination, and big trouble with the regulators...
Take the time and apply for the 30 year fixed rate full document loan and DO NOT USE A BROKER...please go to the credit union or her bank for this process, direct lender that will not abuse the fees and charges that are the Brokers reason for existence to make their house payment and grocery bill off you loan for the next 3 months.....off one piddly little loan.
If you have a Credit Union that is near by, the bank that your Mother has done business with for umpteen million years...USE THEM, PLEASE.
The rate should not be any more than 6.50% or 6.75% or lower this market... |