Is it better to get a home equity loan, or a home equity line of credit? I want to pay off my credit card debt.
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What are my options for financing my house remodeling project?
Sunday, February 14th, 2010I guessing I need 10K – 15K to fix my house the way I would like to. How do I finance something like that? I’ve heard that rates are high on home equity loans, but maybe that’s the best way to go? Or just a simple loan from a bank? I really don’t know what options are out there and how they work. For example, if I do get a loan from a bank do they just put that money in my checking account and I write checks? If not, how do I access the money? What kind of information do I have to give them for a loan like that? Any advice you can give me is greatly appreciated.
Home Equity Loans FAQ
Monday, December 14th, 2009Can home equity loan travel to foreclosure?
When my house was worth something a few years ago I paid of an existing mortgage beside a 30year fixed home equity loan. I also took out a small home equity loan for improvements. I had a ton of equity but now i don’t. House have been on market for 3 years since getting…
Can i achieve a home equity loan from a property located contained by PR, realm of US, while living surrounded by US?
I moved from PR to FL, and would like to consolidate debts. unless you owe nothing on the house within PR, the answer is likely “no”. you probably can re-finance it, paying off the existing loan. Be…
Can I achieve a home equity loan on in somebody`s company owned property?
My wife and I are separated, she is living in the house. Does she have to agree and co-sign for the loan? No you can not. She would enjoy to agree and co-sign on the loan and she would be entitled to 1/2 the loan equity. If your…
Can I achieve a home equity loan?
I own my fathers home outright, no mortgage, just the property tariff bill, I need about 20,000 for renevations and to win caught up on a few other bills. The house was closing assessed to be worth $275,000. I would like to use bank of america but I hold on to reading…
Can i achieve home equity loan minus human being on mortgage? but I’m on work
going through divorce and she killed me with debt.she make more than me has the house and the kids and i have the debt. she is jerk me around setleing with me. if the divorce is not final then within most states no way unless…
Can I acquire a home equity loan or do I hold to re-do my mortgage?
I bought my home 4 years ago, and it appraised at $101,000. I bought it through a mortgage company, on a 30 year loan. Now that I can afford to pay a little more I’d close to to redo my loan, and add…
Can I apply for home equity loan while house is tabled for Dutch auction?
In MD area, is it possible to apply for home equity loan while house is listed for Dutch auction? I am trying to purchase a land/lot, but need home equity loan for downpayment. I know loan guidelines have be pretty tight recently. If my…
Can I appropriate out a home equity loan right after the purchase if I bought a 170000 house for 145000?
wondering about taking out a home equity loan on the remaining value of the house to consolidate the rest of my bills. Is this clever? Yes but you will need to have terrifically good credit, and be able to debt…
Can I borrow $50000? Have some home equity and a business but unqualified to take traditional loan. Looking for?
money for business expansion. Contact me a buylife_1(a)yahoo.com if serious. This could be as an investment-would pay a decent return-can provide info. www.lendingtree.com if you enjoy equity in your home, you can get 125% of homes expediency. They were running an ad…
Can i bring a home equity loan even though i dont own my home?
im still financing my home. mortgage. but i want to get an equity loan even though i dont own it yet. is this possible? if so, do i capture the loan amount value of my home or is there a sunhat limit. say…100,000? If you have…
Can i bring a home equity loan on a home i purely bought that i be able equity contained by it?
we are buying a home from my mother. she is gifting us the equity in the home. can we get an equity loan at duplicate time as we get our home loan or do we have to dally and how…
Can I bring a Home Equity Loan on a Rental Property?
You can have it done but the fees will be huge. You will probably pay between 3 and 4 points which is a significant amount. It is harder, regulations are more difficult but it can be done. Source(s): Certified Real Estate Appraiser What? Not if your…
Can i buy a tentative home on home equity loan?
my existing house valued three hundred and fifty dollars and i still need to pay 80,000 towards my mortgage immediately i am thinking to to take two hundred and fifty thousand dollars equity on my house and paid stale mortgage and i have a wish to buy a home…
Can I capture a home equity loan near Bad Credit. i OWN My home and its fully remunerated for?
I went to the bank today and tried to procure a home equity loan but they turned me down because I had bad credit. I own a stable job that I worked at for over 5 years, I own my…
Can I catch a home equity loan next to a first mortgage?
I am buying my first home with an FHA loan. The mortgage company I am using doesn’t do a 203K loan and I would like to use money to develop the house. I was approved for $40,000 more than purchase price and only want $20K max. …
Can I claim the home equity loan interest on my taxes if the form have my husbands SSN number?
NO-why aren’t you filing jointly? You claim the amount you compensated on your return. Check the schedule A instructions for any additonal notations. (Be advised, if you itemize, your husband must also itemize.)
Can I compensate past its sell-by date a home equity loan near my credit card ( lower interest rates!)+ how do I do it?
I have an offer from a credit card co near a low interest rate, 2% lower than my home equity loan interest. I would love to get rid of the horrible 8.75% home loan interest on $12,000….
Can i construct the payments on my dad’s home equity loan?
My father took out a home equity loan a few years ago to help me out financially. I make the payments on his home equity loan directly to my father’s sandbank. Is this legal, or does my father need to be the one signing the checks? they don’t really vigilance…
Can i database collapse on my home equity loan, but not my mortgage loan?
I doubt it. Husband owns a mortgage co. If you report bankruptcy on a home equity, they could take your house. Don’t do it. Good luck. Bankruptcy (7, 11, or 13) will not disturb the legal status of a properly documented mortgage….
Can I discount interest on more than $100,000 on a home equity loan?
the money was used to build another house (occupied by my elderly parents) located next to my primary residence on indistinguishable 10 acres of land. Can this qualify as a “home or land improvement” and allow me to write stale the full interest amount? To deduct interest…
Can I draw from a home equity loan 2 years after liquidation?
I had a business failure that cause a personal chapter 7 bankruptcy which was discharged within April of 2007. I currently have a tax lien on the home due to some IRS penalty, interest and taxes owed from the business. I’d like to get a home equity loan to…
Can i filch out a home equity loan against my home near a co-signer?
i want to take out 30,000 home equity loan but i am in chapter 13 collapse, can i get someone that has pretty well brought-up credit to co-sign for me If you weren’t contained by bankruptcy, I would say yes unsurprisingly. It depends upon each individual bank…
Can I gain a home equity loan next to no seasoning requirements beside bleak credit?
We just purchased a home and want to consolidate some bills to create a better cash flow. The problem is we’ve solitary been in the house for two months. I’m man told that most companies require 6 months to 12 months seasoning to get…
Can I get hold of a debt consolidation loan as a home loan but next to no equity?
I am trying to consolidate my credit card debt because the payments are too high each month. If I could catch a home loan this would be perfect. I am having difficulty making adjectives the payments and I don’t want to…
Can I get hold of a Home Equity Loan lacking a W2 and single paystubs?
It depends on your mound. Some banks require a home appraisal too. Look… not matter what anyone says you’ll never particular until you try. Talk to a mortgage broker. They have many sources of funds. Not going to happen right…
Can I get hold of a home equity loan on a property I own surrounded by Canada, if I’m an American citizen?
I own, (thru an inheritance) a cottage/home in Ontario,Canada. Where can I go to procure a home equity loan on it? I own the property out right and only pay twelve-monthly taxes on it. Althought the property is in…
Can I get hold of a Home Equity Loan to purchase a rental property?
So, that way I could use some money to rehab around the property rather than getting a mortgage loan. The rental properties are usually range $30K to $50K. Thanks! done all the time I am a mortgage banker within TN & KY . …
Can I go and get a home equity loan if I already enjoy a second mortgage?
Get valuable tips on mortgage from http://moneymentor.cashmatter.info . It’s a exceptionally useful website. Generally not short paying off the second. No one wants to own the third lien position on the house, especially if there isn’t a ton of equity. Most likely you…
Can I go and get a home equity loan?
Can I get a home equity loan if I have fruitless credit. Please help. I need to know what trusted companies I can contact for this type of loan. Thanks. i am loan officer. tell me more about your situation and i’ll agree to you know if this is the…
Can I grasp a home equity loan near a credit rack up of 560?
probably not…right now the sub market is discouraging…..right now a credit score of 600 is needed for most home loans…… no and you should not try because you will not be able to afford the rate that they will charge!! work on getting you…
More Home Equity Loans questions please visit : RefinanceFreeFAQ.com
Question about appraisal for Heloc Home Equity Line of Credit…?
Sunday, November 15th, 2009I’m going through BOA (Bank of America) for a home equity line of credit. I thought my house was worth about 5k based on comps and market analysis. They did a "desktop" appraisal and it came back at k. I just purchased the house for k and was hoping to get a HELOC to do some work and upgrades to the house. THey said they "upgraded" the appraisal and were doing a drive-by (I did not mention I thought it was low). Is there anything I can do in hopes of recieving a higher appraisal? Any tips??
Refinance, mortgage question very confused?
Tuesday, November 10th, 2009I took out a 70k HELOC 1.5 years ago, adding my 1st i owe 205,000. My intrest rate on my 1st is "ARM’ 10% and 2nd 12%. These are killing my payments. I went to try to refinance my credit is 670, but they are telling me my property is valued at 185. if i would come up with 20k they tell me i could save a huge chunk of money. My home was actually appraised at 220 when i took out the HELOC 1.5 years ago. They used a computer to figure it out not a actual appraiser. After doing some reasearch homes sold for 184,000 at that time. I live in a townhome communtiy. I need some help tired of explain this to banks.
Is a mortgage refinance a good option for me? (revised)?
Sunday, November 8th, 2009Is a mortgage refinance a good option for me?
Scenario: 1st. mortgage owed is a fixed rate ,000.00 at 5.125% and 11 years left to pay off. Also a HELOC owed is ,500.00 at current rate of 4% for 16 years to pay off.
Max cap is 12.9% on the HELOC.
I want to refinance to a new 10 year mortgage combining both at a fixed rate of 5% for ,500.00. Zero points. (Closing costs of 00.00 rolled into new mortgage). Home value is approximately 0,000.00.
Am I making a smart move?
Why Bank’s FICO Score so different?
Sunday, October 25th, 2009I applied for a Home Equity Loan from Bank of America. I was denied because they said my Transunion FICO score was 668. They only pulled my Transunion report – no late payments, only balance on one credit card out of 3 (10,000 total available), no collections, etc. Only thing is short history of 3.5 years for credit cards.
I checked my Transunion via Truecredit Score. TU 753, EX 743, EQ 724. I know these are considered FAXO scores.
So I check myfico.com scores. TU 734, EX 686, EQ 716.
My Experian VantageScore is 818 – Grade B – Prime Plus
How could Bank of America get a score of 668 using only Transunion? Even if you add all 3 myfico.com scores together and divide by 3, you still don’t get 668, you get 712.
I am going to other Banks. But just am curious how they got that score. It is like they pulled it out of thin air. Thank you for answers!!
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