Current Prime Rate Prime Rate History Home Equity Loans Avoid Mortgage Insurance  

CURRENT PRIME RATE / PRIME LENDING RATE

The Prime Rate is defined by The Wall Street Journal as "The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks" - Today's prime interest rate is listed below and updated daily:

GET UP TO 4 MORTGAGE QUOTES

Before starting the search for a new home it's critical to know much you can afford.  Use the menu below to find lenders and Get up to 4 Quotes for buying or refinancing a home.
  
Home Equity Lines & Loans

There are many advantages of securing a home equity line against your home's value.  Whether you need to consolidate debt or simply enjoy the reassurance behind having an emergency line of credit it's important to understand how home equity lines can benefit you.  Some of the most popular ways consumers use home equity lines are:

Consolidate credit card debt
Probably the reason why most consumers take a home equity loan along with a possible tax deduction and easier approval criteria than unsecured personal loans.

Home Improvement
Use the existing equity in your home to make improvements such as another floor, an additional bedroom or even a garage.

Emergency Line of Credit
Once a home equity line of credit has been established many lenders will allow you to draw on this line for an extended period of time (usually 10 years minimum) without the consumer having to qualify again.

Avoid Private Mortgage Insurance (PMI)
If you are putting less than 20% down on a new home many lenders will require PMI (private mortgage insurance) however combining a traditional first mortgage with a home equity line may alleviate the need for this insurance.
PRIME RATE TOPICS:
Today's Prime Rate          Prime Rate History          Home Equity Loans
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