Is it still okay to get a home equity loan or loc?

[Notebook]

Looking at finishing my basement and taking out a home equity loan or line of credit. (About 30k) With rates rising (and will most likely continue to rise in the near future) is it still smart to get one of these loans? Anyone have any recommendations on where to get one that has a decent rate, low closing costs, etc?
I have a 30k credit card that has no balance and they sent me an offer for 4.9 on the life of the balance if I use one of their checks. Even though it is not tax deductible, would this be wise to do because of the low rate?
Would love to get some opinions on this. Thanks.

 

[TheKinz]

Mtg rates have been actually going down and many see them continuing to go down the rest of the year. Do the equity or 2nd mtg DO NOT DO CREDIT CARD there is absolutely no benefit to that.

Just my 2 cents

 

[TheKinz]

By the way GO PACk. I Lived in West Bend for the first 18 years and then the parents moved us to Florida (thank GOD). Where do you live?

 

[donkeybucks]

At least with the Home Equity Loan you can deduct the intrest on your taxes too!

 

[Notebook]

I live in Madison.
Yeah, I'm thinking home equity is the way to go but that low rate offer that the credit card has is tempting. I think I would save money with the CC but I know it looks better on my credit report if I have debt on a home eq as opposed to a CC.

 

[NorthernStar]

Notebook ~ if you decide to go the home equity line or fixed rate second route I am in Minneapolis and liscensed in Wisconsin. We have a couple of pretty decent loans availabe, competive rates and zero fees plus they are simple. Let me know if you want to get a quote.

Thanks of the opportunity

Northern Star

 

[Notebook]

Northern - sure. Do you have a company website? Maybe we can exchange email address with the mods. I would certainly be interested in hearing more. Thanks.

 

[NorthernStar]

website www.pioneermortgage.org loan officer in the application with first name rick (I am the only loan officer by the name of Rick) Just do a quick application it takes minutes. I can look at it and I will have your email. Or just call the main office number and they can connect you to me 952-400-1144. Thanks for the opportunity to earn your business!!

 

[shiz]

Did it about 3 years ago, will never do it again.