Hello, I'm looking at various banks to take out a home equity loan (in Connecticut). I was wondering if anyone has suggestions as to what banks, national or local, offer the lowest rate and the best service. I'd appreciate as much detail as you could share. Thank you!
Best answer:
Answer by dizzygrltoo
try 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 .
Know better? Leave your own answer in the comments!
try lendingtree.com
ReplyDeletebanks compete for your business!
What are you planning to use the loan for?
ReplyDeleteIf 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 ..
ReplyDeleteyou might as well think more about the rate and having access to call them when you want.