All Forum Posts by: Joseph May

I learned a lot of good info from this Thread, so I Figured I would share my experience so far. As of now I have applied to SDFCU and Key Bank for a 15 yr home equity Loan (not a HELOC). SDFCU approved me immediately pending the appraisal at 6.09% for the amount I need. But as another poster stated this is a painfully slow process. In 1 day i gave them all the documentation they needed, and the loan officer cannot proceed until a whole other separate department in the bank approves my Credit Union membership. So as of now My loan is on hold until the lazy person in the membership department approves my application. I should also add that the loan officer has been great and is currently trying to fix the membership issue. Key Bank also approved me and offered the amount I am looking for at 7.09%, and immediately ordered a appraisal company to come the next day. Key Bank is moving quickly so I am currently holding off on sending all my documentation to them to see how SDFCU works out as the rate is better than Key Bank.