Which HELOC offer is better?

[grbq]

First time posting here.

I am looking at the HELOC offer from two banks: Citi and Santander.

Which offer you think it is better? Is Santander a better choice? Does Santander guarantee a lower rate after the introductory period?

1)  Citi

    2.99% intro APR for first 12 months

    5.49% variable APR there after.    The variable APR will range between (Prime minus + 0.84%) to (Prime + 3.74%).

    $50 annual fee

     No closing cost



2) Santander


    2.49% intro APR for first 6 months

    4.25% variable APR there after.    The variable APR will range between (Prime minus - 0.5%) to (Prime + 3%).

     $0 to $50 annual fee (The fee depends on the type of santander deposit account use to setup the auto pay)

     No closing cost

Thanks,

[Revelate]

I wouldn't go with either but that's just my opinion.

There are lower APR offers out there without annual fees; DCU has an excellent one for example and is open to everyone for a $25 one time donation I think it is, but there are plenty of other HELOC providers out there as well.  Every bank is going to be slightly different in their offer as there's no standardization at all so it is recommended to look around at a lot of different ones.

[grbq]

Thanks. I just found some other HELOC providers have lower APRs and margins. I will do some more research.