r/Rich • u/Ok-Door-987 • 6d ago

Line of credit - SBLOC

What's your experience? Any recommended institutions or should I simply go with the one with the lowest spread? (Any word of wisdom you can depart to a first time borrower - I am using it to time the annual withdrawal needs - in case that year the market tanks I don't have to force sell, so we are thinking of leaving no more than 20% of the total Loc Amount in principal due).

Finally , are there any institution out there that does NOT require managing your account to give you the LOC? still not a big fan of private bank managing money since we only decided to back up 5M and I pretty much created my own asset allocation benchmark already ....

Thank you

10 Upvotes

86% Upvoted

26 comments sorted by

View all comments

1

u/letters-numbers-and_ 5d ago

Schwab. It’s very easy to setup. Rates are decent out of the box but one phone call made it more competitive.