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Old 02-08-2019, 10:24 PM
bankworking bankworking is offline
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Join Date: Feb 2009
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Quote:
Quoth Jetfire View Post
... But even at a glance I know 3.4% is a hell of a lot less than 7% and it's a rate I wouldn't budge from unless you were forcing me (possibly literally, with a bulldozer...)
Yeah, you can't beat rates like he has with 1st mortgages right now, let alone a Home Equity. I have never had a customer so convinced that a higher rate was somehow better...


He changed the request today. Went back to the $30,000 second mortgage HELOC, leaving his first mortgage alone. Thank goodness. 7% APR on new money isn't so bad, though I am making triple sure he understands the concept of variable rate.

Last edited by EricKei; 02-09-2019 at 09:27 AM. Reason: We just read it, thanks.