Quote:
Originally Posted by Kobatuzzied
If you have a $250,000 LOC you would need to pay minimum $1302. (snip)
If you went with the rate you gave above on the 5 year close you would be paying $1583/month
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Right, but with the $1302 payment, absolutely nothing goes towards principal, so there is also no penalty to make yourself end up years behind in paying off your house. Bottom line is 6.25 is a worse rate than 5.89
To answer the OP's question, last week when I was looking the best I could find for 5 year was 5.97%.