Reasonable Unsecured LOC interest?

[Nir]

Hi,

What is considered a good interest rate on an Unsecured LOC the large banks offer? Prime+3%, Prime+2%, Prime+1%?

Don`s book provides a great summary on the topic! Just wanted to know what interest is considered pretty good today(?)

Thanks & Regards,
Neil

 

[PeterKinchMortgageTeam]

QUOTE (investmart @ Apr 24 2008, 10:23 AM) Hi,

What is considered a good interest rate on an Unsecured LOC the large banks offer? Prime+3%, Prime+2%, Prime+1%?

Don`s book provides a great summary on the topic! Just wanted to know what interest is considered pretty good today(?)

Thanks & Regards,
Neil

It depends on the strength of your application (ie income, net worth, credit). Assuming all of those things are strong, you should be able to find prime +2% pretty easily.

 

[Nir]

Thanks Peter.