Hello, I’m seeking during assorted banks to take out a home equity loan (in Connecticut). we was wondering if any one has suggestions as to what banks, inhabitant or local, suggest a lowest rate as well as a most appropriate service. I’d conclude as most item as we could share. Thank you!
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What are you planning to use the loan for?
If you can, don’t get a home equity loan. Really consider if you need the money now or down the road. I say that because so many sellers have gotten themselves in trouble because they borrow more money than their home is worth. They pay off credit cards, buy cards, get granite countertops — then they can’t sell the house to pay off the mortgage.
Try not to get a home equity line — that’s my advice. Save up the money instead.
retail banks go with washington mutual , wells fargo or astoria federal savings.. unfortunately mortgage brokers are getting less business on 2nd loans. As far as service, they are all the same…anyone clerk can screw up things for you. Iv’e seen it happen with all of them ..
you might as well think more about the rate and having access to call them when you want.
try lendingtree.com
banks compete for your business!
try http://www.bankrate.com
Shop around for the best interest rate. The fed just dropped it’s rate which means your bank should have their prime rate around 7.75% . Be stingy and pushy if you have to. Inquire about specials etc. Don’t deal with individuals deal only with reputable banks that are going to be more solvent especially now that the mortgage crunch is happening also most banks are being more consservative with their lending because of this. FOREWARNED IS FOREARMED. Good Luck.
AVOID HSBC LIKE THE PLAGUE!! THEY ARE AWFULL TO DEAL WITH .