Looking to do some home improvements on our home. We’ve received a quote of APR is prime plus .50 on a HELOC. Anyone have a sense of whether that is a good rate?

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That's not bad. You either have ok credit or your LTV is getting up there.

Great to know. We have 800+ credit scores and about $900k in equity in our home.

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Yeah, that’s a pretty good rate.

In my experience local credit unions have the best options on HELOCs. Check out Navy FCU. Ask this:
1. If I set up auto pay do I get a rate discount?
2. Discount for opening up a checking account?
3. Ask if rate changes based on a lower LTV. 60%, 70%, 75%, 80% etc... A lot of times the bank will approve you for the max amount even though the rate is higher. If you don't need that high of a limit request a lower limit if the rate is better.

I work for a credit union, we will do prime minus for exactly what you are saying. We will also do up to 100% of the value of your home, but that's prime plus a good amount.

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