Re: Earliest Republic line of credit – 100k dos.25%, people questions?

Re: Earliest Republic line of credit – 100k dos.25%, people questions?

cogito penned: ^ Thu The other day I found myself given a myspace ad to possess what appeared to be an astounding price to own unsecured debt at First Republic. First I thought a fast click the link manage inform you that it is too good to be real, even when after lookin through the disclosures and you may talking-to an associate, it seems that this is indeed genuine. I wanted to find a good sanity examine from bogleheads, because You will find never ever established a personal line of credit, however, want to purchase solar power this present year, as well as these types of levels, do provided reducing our crisis finance basically had fast access in order to 100k. With rates for the past upwards, having the ability to use on dos.25% to possess 7 years looks like I ought to. max one to away, best?

Once conversing with the associate, it looks like I will get approved instead with ease. The new hoops I want to plunge by way of on the promo best rate was: Opening a checking account and keeping about 20k truth be told there, include head put, and pledge not to ever put it to use having assets (I did not irritate explaining to the latest associate that cash try fungible and therefore demands will not really make experience).

Once again, what are the red flags I should look out for? My safeguarded financial is 2.5% fixed and i have no want to spend it off, what can become one concerns I will features with taking right out 100k in the dos.25%?Read More