Lowest interest Loans/LOC?

[yellowsnow]

I'm currently with TD Canada Trust, and have an unsecured line of credit with an 8% interest rate.

Is there anything better out there? I might go apply for a home equity line of credit, and the interest rate will be 6%.

What's your current interest rate for your loan/line of credit?

[xrayvsn]

Unsecured Personal Line of Credit at prime (6%).

[broken_legs]

Originally posted by xrayvsn
Unsecured Personal Line of Credit at prime (6%).

Wheres that from?

[xrayvsn]

CIBC, but I can get that at any bank

[pinoyhero]

Rather than just hint at it why not share the details? You are doing no one any good by posting like that.

[sputnik]

Arent secured lines of credit better in terms of interest rates?

[yellowsnow]

Is the best rate right now just prime (6%)? nobody goes to a credit union or someplace else?

[Xtrema]

Prime is probably best you can get for unsecured but you must have mad credit rating to get it.

Prime + 2% is typical for anyone with a steady job and isn't in huge amount of debt.

Home equity (secured) loan starts @ prime but usually should be prime-1%.

Check your credit rating yellowsnow, that's the basis of your borrowing cost. Nobody is gonna give you a good deal if your credit rating isn't good.

[xrayvsn]

Originally posted by pinoyhero
Rather than just hint at it why not share the details? You are doing no one any good by posting like that.

It is simple, good credit rating and well paying job. Isn't that the secret to any good rate with lenders? I wasn't trying to be an ass.

[D. Dub]

Originally posted by yellowsnow
I'm currently with TD Canada Trust, and have an unsecured line of credit with an 8% interest rate.

Is there anything better out there? I might go apply for a home equity line of credit, and the interest rate will be 6%.

What's your current interest rate for your loan/line of credit?

Before you go shopping contact the TD---tell em you want a better rate or you're moving to another bank.

[s2k_boi]

Xtrema ... you mention home equity lines with prime - 1% . Please share who provides that. Cause usually secured lines are prime and unsecured generally run prime plus something....

[Cypresskilla]

ATB offers prime -.5% but only for the first year. It's standard to be either prime +.5% and up. however the better your credit rating( beacon score and credit history) the more a lender is willing to do to earn your business.

[lint]

Originally posted by xrayvsn


It is simple, good credit rating and well paying job. Isn't that the secret to any good rate with lenders? I wasn't trying to be an ass.

I think it helps when you have MD after your name. Banks are scrambling to lend you money. At least that's what my doctor friends tell me.

[Xtrema]

Originally posted by s2k_boi
Xtrema ... you mention home equity lines with prime - 1% . Please share who provides that. Cause usually secured lines are prime and unsecured generally run prime plus something....

Again, based on your credit limit and rating.

[mekeni]

mine is prime + 3.5 right now...so, I wouldn't recommend it.

[yellowsnow]

if you can get a secured line of credit at TD, the int rate is 6%. unsecured ranges from 6 - 10% depending on the amount and your credit score