3 ms·
Line of Credits typically go off of prime which is why you didn't get the lowest rate. Most institutions do something like prime + x%. If it was a 15 year fixed
by MeinBlutIstBlau 6y ago
Line of Credits typically go off of prime which is why you didn't get the lowest rate. Most institutions do something like prime + x%. If it was a 15 year fixed or 3 year ARM, then you most likely would've gotten an awesome rate.
- ineedasername 6y agoWe were refinancing a currently open (and fixed rate) line of credit we no longer needed into a lower interest traditional mortgage.