Suppose I buy a home for 1 million and put 20% down , My lender wants to give me 729k first loan and 71k equity line, since equity line is cheaper rate I aked the lender to give 250 equity loan and rest as first loan but they refused it, Can they do it?
Posts Tagged ‘equity loan’
If I buy a home for 1 million and put 20% down why can't I get 550k first and 250 second as equity line?
Thursday, March 4th, 2010What are the ins and outs of home equity loans?
Thursday, February 25th, 2010Here is what I’m interested in doing … have an eye on a great condo, list prices were around 0k a few years ago, but they are just building and did it right during a down turn in real estate in the area. As a result they dropped the asking price to about 5k. We got a good walk thru with a realitor and she said cash is king here and if they have a cash buyer she knows they’ll likely settle in around 0k just to move the first few units (they build them by the entrance and that was a bad choice!)
So … my credit isn’t going to help with a conventional loan since it can’t be an FHA loan since the project is only about 15% complete and apparently they must do conventional loans for until the project is further along (that’s what the told us, so it was limited to 1 bank) …
Now to the point, I have a relative who may have around that amount in liquid finances. Can they "lend" me the money to purchase the condo and in turn I would then take out an equity loan to repay them? It should appraise at well over 0k and all I would need to to is pay them back to be free and clear. I’m guessing we could even wait a little while to pay them back (build credit up higher?) but I’d like to do that sooner than later.
What are my limitations? Is credit going to bite me on an equity loan if I own outright? Any resources, tips, info would be appreciated!
my credit is bad and my mom wants my to buy her house?
Monday, January 18th, 2010she told my there is somthing called a intrust only loan that will help me build my credit up my credit is bad but there is equity in the home is it possible to get a equity loan on a house with equity if your credit is bad?
Took out an equity line of credit, loaned the $ to brother for down-pay on a home. Who gets to claim interest?
Sunday, January 17th, 2010Brother initially borrowed , 000 and then paid us paid the ,000 plus interest of ,000 that accrued on the loan to repay our equity loan of 0,000 during 2006. We received a 1098 Form for interest paid credit/deduction. Do we get to claim the ,000 interest or does he?
Does Bankruptcy chapter 7 allow me not to repay the home equity loan if there is no equity in it, but I keep i?
Tuesday, January 12th, 2010Good day!
I would like to ask a question, which may help me to determine whatever to file a bankruptcy or not to.
I do have a house and pay mortgage (current). I am going to keep a house if file for a bankruptcy.
On the other hand I do have an equity loan (secured by my house) from the lener other than my mortgage lender.
My question is – can I claim equity loan (0,000) as unsecured – and so dischargable debt as there is no equity in my home and appraisal only showing about 250,000 value , but mortgage is 500,000.
Loan to repair a foreclose home?
Wednesday, December 23rd, 2009So I am looking for a foreclose single family home. I found one for ,000 but do need work. The assessment value is at 3,00. Can I take out a ,000 equity loan from the foreclose property to fix it up and bring it up to value?
Related ‘equity loan’ sites :
| CHASE Home Equity Loans and Lines of Credit: Home Equity Loan ... The right home equity loan or line of credit makes it possible. Chase loans let you take advantage of the equity in your home so you can build more. ... chase.com/ccp/index.jsp?... | |
| Home Equity Loan vs. Line of Credit: Features of Both from ... Explore your loan options at Chase Home Equity and learn the difference between a home equity loan vs. home equity line of credit so you can make a sound decision. ... chase.com/index.jsp?... | |
| What home equity debt is A home equity loan or line of credit allows you to borrow money using your home as collateral. bankrate.com/... | |
| Home Equity Loans & Lines of Credit – Wells Fargo Get Great Rates and No Bank Fees on Home Equity Loans and Lines of Credit from Wells Fargo. Quick and Easy Online Application Process. www.wellsfargo.com/equity | |
| Navy Federal: Equity Loans How the equity loan process works. Visit our Home Center for payment calculators, step-by ... Tip: Equity Loans are sometimes referred to as a second mortgage. ... www.navyfcu.org/loans/ | |
| Home Equity Loan Rates, News and Advice from Bankrate.com Searching for home equity rates or advice? Bankrate.com offers timely news, opinion and advice on home equity loans and 2nd mortgages. www.bankrate.com/ | |
| Idaho Central Credit Union - 2 - Home Equity Loans Homeowners have different needs when it comes to tapping into the equity in their home. ... A Loan provides a specific amount of money up front at a fixed rate ... iccu.com/index.php?... | |
| Equity loan - Wikipedia, the free encyclopedia An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. ... Some loan products also allow the possibility to redraw cash up to the ... en.wikipedia.org/wiki/ | |
| Bay Equity Home Loans Bay Equity provides Financial strength and security through our Responsible ... Bay Equity LLC is licensed by the California Department of Corporations and operates ... bayequityhomeloans.com/ | |
| Home Equity Loans & Line of Credit, Second Mortgage Rates ... Compare rates on home equity loans, equity lines of credit (HELOC), and 2nd mortgages at E-LOAN. Use the equity loan calculator to figure out your monthly payments. www.eloan.com/s/show/equity | |