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Reply to "Feeling nervous about HELOC loan amount - Advice?"
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[quote=Anonymous][quote=Anonymous]Does the HELOC have a lock feature to convert to a fixed term, fixed rate? If so you will want to wait til rates go up, now with rates low the lock rates are very high. As rates go up, lock rates will come down to less of a spread. That may or may not be want you want to do later dep. on the facts/details. Savings now will get you 0-1% or so, so paying off a 3.5% loan (~2.45% or so net after tax rate) is a better "investment" in your situation IMO. Can't really advise on the new jumbo question. [/quote] Not op but why would the lock rate spread decrease if rates went up? [/quote]
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