Question:

Is it possible to get a HELOC wholesale rate?

Answer:

Wholesale lenders usually have the best HELOC wholesale rates. A wholesale HELOC lender can be located in the internet or in your neighborhood. Along with obligatory background check on the lender, you could be able to collect different quotes for free.

A HELOC prime minus is usually the best one you can get, although there could be found some HELOCs based on LIBOR.

HELOCs have become a competitive product even with regard to first mortgages. Getting a HELOC with a wholesale rate will allow you to either build up your credit easily, or refinance your first mortgage successfully into a HELOC.

Even though HELOCs are considered risky for a first mortgage, more and more people are using them to refinance their first mortgages, even if the HELOC doesn't always carry a wholesale rate.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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