Quote:
Originally Posted by You Need a Thneed
My mortgage is up for renewal. I am coming up on 5 years into a 25 year mortgage, and currently with TD. TD is offering me 5 years fixed at 3.49%.
Also, I am looking to consolidate some other debt into the mortgage/house somehow, to get a lower interest rate, making it easier to pay off. It seems to me that the best way to do this is to get a separate HELOC.
Can I get a better rate than the 3.49% anywhere? And it the HELOC idea the best idea? Is it better to get a HELOC from the same institution, or should I go elsewhere?
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I've seen five year rates at 3.29%. Not sure if there are better rates out there or not. You just missed the boat on BMO's 2.99% promo.
How much equity do you have in your home? I've never been a big fan of HELOCs & much prefer just lumping it in the mortgage, but that's just me.