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Maybe next the brokers will stop asking almost 6% above Libor for a loan that’s better secured than most mortgages. I get offers in the mail for unsecured perso
by User23 7y ago
Maybe next the brokers will stop asking almost 6% above Libor for a loan that’s better secured than most mortgages. I get offers in the mail for unsecured personal loans that are better rates than margin from any broker besides Interactive Brokers. Warning about them though: I hear they are extremely aggressive on margin calls and skip right to liquidation so be smart.
- charlesdm 7y agoThat's only for the "smucks", though. If you have a proper banking relationship, you'll get great rates.
- Waterluvian 7y agoI learned this lesson recently. I had to go into a bank to get a prime + 0.5 line of credit secured against my home's equity. Nowhere on the internet would an online formula give me anything close.
- ianai 7y agoProper banking relationship in what sense? Credit union?
- nullc 7y agoInteractive's margin rates are benchmark + 1% for 100k, bm + 5% for 1m. So right now, 2.33% at $1m which compares really favorable to a mortgages. They also let you set liquidation preferences on your assets. https://www.interactivebrokers.com/en/index.php?f=44427 https://www.interactivebrokers.com/en/index.php?f=44427