# What is the best HELOC available?



## Spidey (May 11, 2009)

What is the best HELOC rate available. Currently TD is at 4% which seems high compared to variable rate mortgages. Anybody getting a great rate?


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## CanadianCapitalist (Mar 31, 2009)

A friend of mine has a secured line of credit at prime plus 0.5% (or 3.5%) at TD Bank. Sounds like the rate is negotiable.


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## Abha (Jun 26, 2011)

I believe RBC is still continuing that Prime + 0.5% promotion from earlier this summer.

I would have thought TD would match that.


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## Larry6417 (Jan 27, 2010)

My HELOC is prime - 0.5% (2.5%), but I concentrate most of my business at one bank.


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## andrewf (Mar 1, 2010)

^ That's very impressive.


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## Maybe Later (Feb 19, 2011)

Mine is prime + 0.5% at CIBC. It's pretty easy when you're in the bank and RBC's radio commercial comes on to get them to match.


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## yupislyr (Nov 16, 2009)

Yeah 3.5% seem to be the popular going rate now with the RBC advertising going on.

I ended up going with NBC. I liked their All in One product but getting it for free with no strings attached was what sealed it for me. All the various fees and costs were either waived or covered by cash back.

It is most definitely negotiable. No different than a mortgage. It even says 4% on the NBC website but I got 3.5% too.


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## Calgary_Girl (Apr 20, 2011)

Got 3.5% with RBC about two months ago.


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## dcaron (Jul 23, 2009)

3.16% at National Bank, but been in this HELOC for almost 4 years.


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## FPbloggerwannabe (Sep 27, 2010)

has anyone here leveraged their HELOC to invest and then convert that sum into a 'mortgage' type debt? wouldn't this be able to get you into the 2.5 - 3% range? and would still be interest deductible.


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## GeniusBoy27 (Jun 11, 2010)

I'm at prime + 0.25% at CIBC.


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## Ihatetaxes (May 5, 2010)

Prime even at Royal.


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## 50invester (Feb 10, 2010)

*HELOC Rates and Fees*

Good thread ... lucky to find it. A family member walked into TD with 30 years of loyalty, and was simply told 4% (P + 1) and $500 fee for legal. Should I tell them to stuff it? Is the RBC deal still going or would it be better to go to NBC? Any comments would be greatly appreciated.


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## andrewf (Mar 1, 2010)

If they have good credit, then they should shop around. Keep in mind that the banks have been tightening lately, so I'm not sure some of the rates you see in this thread are still applicable.


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## GeniusBoy27 (Jun 11, 2010)

You should be able to get at least prim + 0.5%, with no fees.

I'm not sure I could get my prime + 0.25% anymore, with the increase in variable rates. I agree with Andrew on that.


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## Cal (Jun 17, 2009)

Just thought I would revisit this, I think I will probably get a HELOC in 2012. I normally bank w TD, they told me the standard offer is Prime (currently 3%) +1%, but that they could do it for +.5%, with no fees.

I am in no rush and am going to try for as close to prime as possible....


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## FrugalTrader (Oct 13, 2008)

mine is at prime which was secured almost 4 yrs ago with bmo.


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## Sustainable PF (Nov 5, 2010)

FrugalTrader said:


> mine is at prime which was secured almost 4 yrs ago with bmo.


We got prime +.5% in the summer of 2010. We weren't able to get a better rate.


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