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Bagor · 08-19-2008, 10:14 AM

I'm in a sorta similar situation to Fotze.

Up for renewal in just under 3 years. 5 years FR 5.15%

I just checked with my bank yesterday and my Line of Credit which I haven't dipped into is set at prime. For whatever reason I was always under the impression it was prime +1%.

So basically does it make sense for me to take money from my LOC and use it to double up on my mortgage payments? The answer seems an obvious yes but I'm scared I'm missing something.

Asked at the bank yesterday and they sorta avoided the question.

08-19-2008, 10:14 AM	#9
Bagor Franchise Player Join Date: Jun 2008 Location: Spartanville Exp:	I'm in a sorta similar situation to Fotze. Up for renewal in just under 3 years. 5 years FR 5.15% I just checked with my bank yesterday and my Line of Credit which I haven't dipped into is set at prime. For whatever reason I was always under the impression it was prime +1%. So basically does it make sense for me to take money from my LOC and use it to double up on my mortgage payments? The answer seems an obvious yes but I'm scared I'm missing something. Asked at the bank yesterday and they sorta avoided the question.