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Smokebomb King
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5,211 Posts
Discussion Starter #1
If any of you guys are in the need of mortgage assistance or a home equity loan/line of credit let me know and I'll see what I can work out for you with no BS. I work for JP Morgan Chase so it's a legitimate and reputable company. Shoot me a PM if you ever need anything.

Lou
 

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Premium Member
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2,534 Posts
My local bank just offered ma a 30yr fixed rate loan at 5&3/4 percent on a home I just made a offer on. Is that pretty reasonable?
 

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Smokebomb King
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5,211 Posts
Discussion Starter #5
Yes, actually thats very reasonable considering interest rates have gone up over the past few months. I would take that and run with it if I were you since rates are projected to possibly rise a bit again in the coming months. Are you paying points or anything like that??
 

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Dragger o' Pegs
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3,461 Posts
My girlfriend is an Account Exec for Citibank (Wholesale, Home Equity). The market is getting crazy! Chase and Citi are some of the biggest names in the game. I hope you can help some people out, because the market is getting worse and things are gonna get much more strict.
 

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Premium Member
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2,534 Posts
louballs said:
Yes, actually thats very reasonable considering interest rates have gone up over the past few months. I would take that and run with it if I were you since rates are projected to possibly rise a bit again in the coming months. Are you paying points or anything like that??

Not paying any points. I guess I will go with it.
 

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Out to Lunch
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801 Posts
Lou - I'm glad you posted this. My local bank is trying to get us to open an equity line of credit with no fees. Now, we have no reason to get a line of credit (no real debt to speak of other than the house) but it would be nice to have a safety net should the house need major repairs. What is the downside of an equity line of credit? I'm assuming that it'll look bad if I need credit for an auto in the future even if untouched. Once they get back in touch with us I can shoot you a PM with the details but I figure this is a question we can all benefit from.

Thanks,
-Bill
 

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Smokebomb King
Joined
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5,211 Posts
Discussion Starter #11
Hey bill,

I sent you a pm. In response to your direct question though. A line of credit can do good things for your credit depending on how you use it. A lot of times creditors will notice that you have a large amount of credit, but if you aren't using much of it then it will work in your favor.
 

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myvrodrocks
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6,021 Posts
Yajtsa said:
Lou - I'm glad you posted this. My local bank is trying to get us to open an equity line of credit with no fees. Now, we have no reason to get a line of credit (no real debt to speak of other than the house) but it would be nice to have a safety net should the house need major repairs. What is the downside of an equity line of credit? I'm assuming that it'll look bad if I need credit for an auto in the future even if untouched. Once they get back in touch with us I can shoot you a PM with the details but I figure this is a question we can all benefit from.

Thanks,
-Bill

www.daveramsay.com
 
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