Texas Home Equity Loan» equity loan

Buying a home, need a down payment?

admin — Wed, 30 Jun 2010 20:27:13 +0000

Currently I am in the process of house hunting. I already own a home, but its occupied by three people including me. I am trying to move out to live on my own (Finally). I did a recent credit check back in april, it was good, but back then i wasnt interested in owning a new home.

I have a steady job, and make about 2,000 per month. I have a car payment and a small debt to pay to a bank loan (around 1,500 dollars). So my question is, is it possible for a mortgage company to give a loan without having the required 20% to buy a new house? Should i refinance my current property or get an equity loan? The other two current home occupents will remain in that house and carry on the payments there. If anyone has any suggestions or experience, let me know.

By the way this would be my second time being a home owner, the first time i was very young, and might have missed something. My current situation with the home im living in is fine, but i just want to get out, get my own place and go solo.
By the way, those remaining occupents wouldnt be tennants, one of them is on the title and deed to the house, which would probably make him responsible for the mortgage. Still i would be partly responsible.

Should or CAN I combine my Mortgage loan with my home equity loan (Refiance together)?

admin — Wed, 19 May 2010 02:25:08 +0000

In 2006 I purchased a home for 9,000, I took out a mortgage for ,200 at 6.75% (30 years fixed) and a home equity for ,700 at 8.74% (20 years fixed) and put down ,000. I did this so I could avoid PMI which I did. But now I want to refinance since my rate is ridiculously high. Can I combine these two loans now, currently at ,000 and 00 = ,100 combined? At my local credit union the rate they show is 5.185 % (at HSBC now). Gonna live here for at least 6 more years maybe more until my parents sell their home. Gonna talk to them but just wanted some insight before I went. To throw something else in I just won ,000 and was thinking of just paying off the Equity loan but wasn’t sure if I should invest it instead? Was gonna open a roth IRA for a retirement fund maybe with 00 of it since I’m in my low 30’s..

would i be granted a home equity loan even tho i file bankrupsy in feb.2005.?

admin — Mon, 03 May 2010 18:05:14 +0000

I,do not have a morgage loan and my credit card debt is only 1,900. I would like the equity loan for only 10,000.my coop is worth 170 thousand,but because of the bankrupsy i don,t know if i,will get approve.

Do Home Loan Modifications include our equity loan?

admin — Sun, 11 Apr 2010 12:37:26 +0000

Mortgage is with Chase, equity loan is also with Chase. We applied for a loan modification. Due to job loss, decreased pay we cannot continue to make our home loan and equity loan payments.

Wondering if they will adjust/combine our equity loan in our home loan modification. I can’t get a straight answer from Chase regarding specifics until underwriter has approved.

Does any one know, or has had experience with Chase or this scenario.
Thanks!

I had a mortgage and an equity loan on my home. I sold my house for less than what I owed the banks.?

admin — Wed, 31 Mar 2010 12:04:10 +0000

My first mortgage was payed off and for the equity loan I payed some of the money and they closed the account. I need to know how to file my taxes. The accountant is telling me that I need a form 1099C and the bank is only giving me the 1098.

Home Equity Questions…?

admin — Fri, 26 Mar 2010 23:18:44 +0000

NO SPAM.. I will report it.. thanks

Ok. Lets say you own a home for 0K. But you still owe 50% to a mortgage loan. Can you get an equity loan for 50% of the value of the home or for 100%?? Or can you not get one at all since the home is not fully paid for?

Also, how do they determine the value of the home you own? Is it by the price you paid or by an appraisal or something else.. ? Who determines that?

Thanks!

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?

admin — Thu, 04 Mar 2010 16:48:14 +0000

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?

What are the ins and outs of home equity loans?

admin — Fri, 26 Feb 2010 00:05:52 +0000

Here 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!

Equity questions best answer 10 points?

admin — Thu, 11 Feb 2010 10:42:23 +0000

How do I know how much equity I have in my home?How can I find out?If you have equity in your home and never use it for anything where does it go?If you have to pay it back how is it your money?how soon do you have to pay the money back if you take out a equity loan?someone said buying a home can help you with retirement how is that? If you never have home equity then you didn’t purchase a good house is that right?

Best answer to all my crazy questions get 10 points ………Thanks

my credit is bad and my mom wants my to buy her house?

admin — Tue, 19 Jan 2010 05:06:39 +0000

she 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?

Texas Home Equity Loan» equity loan

Buying a home, need a down payment?

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