get interest deduction beyond the first 100k.
Details:
500k home: 250k down payment, 250k HELOC for the rest.
I want to take out a home equity loan to pay off the HELOC so I can fix my rate.
Is the home equity loan tax deductible in its entirety (i know the first 100k is).
I’m looking to take out a business loan against some property equity I have. I was told by a lender that I had to re-finance my home loan and go with them if I was to take out a business loan with them.
Am I able to keep my home loan where it is? I don’t want to move it across because of the exit fees, legals, etc.
Info about Australian lenders
What happens to Wachington Mutual home equity credit lines? Do they stay open? Can I still draw on it.
I currently live in a small single-family home with a market value of 0K (it’s in a market that has not been severely punished by the housing crisis). Current mortgage balance is 5K. Rather than selling I am considering renting my present home and purchasing a new home to better accomodate my growing family (in the 0-0K range). Rental income would cover the first morgage and my personal income would cover the mortgage cost of the new home. I need to free up the equity in my current home to meet the down payment on a new primary residence. Is a cash-out refi the best way to accomplish this task? Also would the mortage amount on the rental be counted toward my overall debt percentage (28% is the general rule) when I follow shortly thereafter with 30-year mortgage for a new home? Pros, cons, and any other issues to consider would also be appreciated.
I have about ,000 in home equity right now. Is it possible to get a loan from that to invest in stocks? If so, what would be the best way to do that?
We have a large amount of equity in our current house.
We have no bills other than the mortgage on our current house.
Is a home equity loan to get to the 20% down payment and then a conventional loan on the investment property itself the best way to go?
Or is it best to finance the investment property itself rather than using the equity in the primary residence. We could finance 100% of the loan purchase price or do a secondary mortgage to come up with a 20% down payment.
I have great credit and 40% equity in my home. I took out a 7/1 ARM 5 years ago and have 2 years left. I got a good faith estimate from a couple lenders and found I can refinance and my current mortgage into a 30 year loan and it would go up about more a month. Would it be wise to refinance now or wait until Im closer to the end of my 7/1 ARM? Nobody seems to want to answer that question. I get the "You will have the piece of mind it will never go up again and for only more a month" line.
I have not considered taking equity out.
My current rate is 4.75% and I have that until 2010 and then it can go up to, but not higher than 9.75%.
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