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View Full Version : Best current HELOC rate? (and how is ATB Financial?)


Strider
04-01-2013, 01:39 PM
About time I joined the Beyond HELOC club so I can buy sweet cars like MaxBoost and ImRich.

I've checked out the websites for all the banks I could think of and the best so far is ATB Financial at P+0%. Not sure what their terms are like though.
http://www.atb.com/personal-banking/borrow/Pages/home-equity-line-of-credit.aspx

Any others that have this rate or better?
autosm
04-02-2013, 11:08 PM
Mine is currently @ 3% which is prime I think. I am with RBC. I don't think they offer this rate anymore.
Xtrema
04-03-2013, 11:32 AM
Originally posted by autosm
Mine is currently @ 3% which is prime I think. I am with RBC. I don't think they offer this rate anymore.

That's pre bust where you can get prime.

Now the best is prime + 0.5%.

ATB rate is good but there's a fine print. Don't remember what it is.
Frankie88
04-03-2013, 02:10 PM
The fine print is for the 1st year only.
BananaFob
04-03-2013, 02:48 PM
Another thing to think about is leverage. I think the credit unions might still be able to do 80% LTV instead of 65% as they aren't federally regulated.
Team_Mclaren
04-03-2013, 11:02 PM
Originally posted by BananaFob
Another thing to think about is leverage. I think the credit unions might still be able to do 80% LTV instead of 65% as they aren't federally regulated.

nope, still can only do 65% if there's no first mortgage.
80% including non-revolving first mortgage.
ExtraSlow
04-04-2013, 12:40 PM
Frank at TD (User Frankie** above) can give some good advice about HELOCs. He helped me out.

Todd Purcell may able be able to do these, I know he does first mortgages.
max_boost
04-04-2013, 06:52 PM
Yeah 65% is the number. Just don't owe the government any money.
Also I find they slightly under appraise your property which is ok probably on the safe side.

Just remember with great credit comes great responsibility.

I'm with TD at prime +.75

Nothing like having close to half a milly credit at your disposal. I will pay it off when I die, life insurance ftw. :rofl:
Frankie88
04-06-2013, 12:30 PM
Originally posted by ExtraSlow
Frank at TD (User Frankie** above) can give some good advice about HELOCs. He helped me out.

Todd Purcell may able be able to do these, I know he does first mortgages.

It's my pleasure to help. Thanks for the credit. :D