Shopping for a HELOC for a kitchen and deck renovation, what should I be asking lenders?
We're planning a kitchen renovation and adding a deck, combined it's looking to come in at $55k. I have about $200k in equity in my home (bought in 2019, value has gone up significantly), good credit score around 760, and stable household income. I've never taken out a HELOC before and want to make sure I'm asking the right questions.
I've started the process of looking into a few lenders but not tied to anything. If anyone has any recommendations I am all ears. But more importantly, the main things I'm trying to figure out is if there is anything specific I should read carefully in the fine print? Is there any benefit to variable rates instead of a fixed rate? Could it go even lower?
u/imagicality — 8 days ago