What size HELOC should I get?
Hi. I am trying to determine if I should go with an 80%, 90%, or 100% LTV HELOC. All of these have different interest rates. As the LTV breaches each of these thresholds, the interest rate rises. Currently, this is what I am seeing...
- 3.50% for less than or equal to 80%
- 4.00% for less than or equal to 90%
- 4.75% for greater than 90%
I have two questions here.
1) What kind of rates are people currently seeing in the Midwest?
2) What size HELOC should I get knowing that these three options are available?
Thank you for the help, everybody.