HELOC best interest rate
Can anyone please advise the best deal for HELOC
Would like to apply for HELOC,but have no idea
about market rates now.
Sep 11th, 2018 9:58 pm
Sep 12th, 2018 5:02 pm
Sep 12th, 2018 5:06 pm
Sep 12th, 2018 5:40 pm
Sep 13th, 2018 10:28 am
I remember somebody mentioning in the HSBC thread that they dont go 2nd (i.e you cannot have mortgage). So thats a factor too. Whats your situation OP? Is it a fully paid home?sunbat wrote: ↑Sep 12th, 2018 5:40 pmHSBC is currently running a promo until sep 30th, You can lock in Prime+0% for HELOC.
https://www.hsbc.ca/1/2/personal/borrow ... -of-credit
Most of the other lenders offer Prime+0.5%. I have Heloc with Simplii at Prime+0.5%. Manulife also offers it at prime+0.5%
Sep 13th, 2018 8:34 pm
Sep 14th, 2018 9:40 pm
Sep 15th, 2018 9:44 am
I called Alterna and spoke to one of the rep - I was told this indeed a limited time offer available until Dec. 03, 2018, after that your negotiated rate which is usually Prime + 0.5% kicks in. It should be noted that they don't go second place for HELOC. What does this mean? It means if you have an existing mortgage on the property to be used as security for HELOC, that mortgage must be with Alterna. Hope it helps someone.sckor wrote: ↑Sep 14th, 2018 9:40 pmAlterna is advertising (Prime - 0.40%) (i.e.: 3.3% currently)
https://www.alterna.ca/Personal/CreditS ... sOfCredit/
I don't see any terms and conditions though... not sure if this is a limited time offer or if they are just being really aggressive.
Sep 17th, 2018 2:05 pm
Sep 18th, 2018 6:08 pm