Need help, any mortagge bankers out there?
Am I getting a good interest rate on my home equity line of credit?
I am refinancing my second mortgage into a home equity line of credit up to just under 95% (94.8%) of the value of my home. The total available draw on the credit line is $100k I am getting prime minus .10% (7.4% currently).
No closing, appraisal or other costs to me. I have a credit score of 720.
Is this a good rate?