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adjustable rate vs fixed 7.57% home equity loan?
toddrws asked:
I have a fixed rate 64000 line of credit at 7.57%. With the resent rate decrease the adjustable rate I can transfer it to is at 5.8%. Tuesday they may lower it .5 - 1% more. Would it be worth transfering it to adjustable rate. I would save around 100 a month on interest that I would apply to the principle. Also how long will the lower rates remain and would they increase it slowely so a person would be able to relock in at a lower rate?
right now I see a 1.77% difference. That might just up to 2.77% on Tuesday. I would save 145 a month. I would apply it to principle.
I have a fixed rate 64000 line of credit at 7.57%. With the resent rate decrease the adjustable rate I can transfer it to is at 5.8%. Tuesday they may lower it .5 - 1% more. Would it be worth transfering it to adjustable rate. I would save around 100 a month on interest that I would apply to the principle. Also how long will the lower rates remain and would they increase it slowely so a person would be able to relock in at a lower rate?
right now I see a 1.77% difference. That might just up to 2.77% on Tuesday. I would save 145 a month. I would apply it to principle.
For only 100k, what are the benefits of an SBA loan vs. a home equity loan?
Steenskees asked:
Why would anyone choose an SBA loan when they tie up your collateral and you could use that same collateral for a home equity line of credit?