Equity Loan Information

An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.

Many lending institutions require the borrower to repay only an interest component of the loan each month (calculated daily, and compounded to the loan once each month). The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onwards. Some loan products also allow the possibility to redraw cash up to the original LTV, potentially perpetuating the life of the loan beyond the original loan term.

The rate of interest applied to equity loans is much lower than that applied to unsecured loans, such as credit card debt. The reasoning behind this is that equity loans involve collateral, and credit card debt does not.

Equity Loan Information

 

Equity Loan Information Knowledge Base

Need home equity loan information?

Wondering what my options are for getting a home loan to do some renovations?

Need Home Equity Loan Information - online vs banks?

Wondering what the differences are between online home loan providers and banks - is it just that the interest rates are better at the bank?

given the following information .determine the maximum credit limit available on a home equity loan.?

give the following information ,determine the maximum credit limit available on home equity loan. market value of home $120,000 maximum% of value ...

What are the best sources of information on Prime equity home loans

I am looking to refi my home mortgage and got a suggestion to check out home equity loan. Need help

Home Equity Loan...How easy to get based on this information?

I originally tried to get a regular mortgage and was denied....but the following happened... I bought a home (closed today!) for cash for $16,174.1...

Why is it that many loan companies wont provide home equity loans on property that are used for agriculture?

One that comes to mind is quicken loans. Any information would be appriciated, thanks. The thing is, my home is included in my land that I use for ca...

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Equity Loan

 

Equity Loan Knowledge Base

equity loan?

how do you know if you are quilified for a equity loan.I know we have equity in our home and in the past I have always been told "sorry you are n...

How does a home equity loan work?

I need to know all the details and if it is a good choice. I have payed off my vehicle and credit cards and have none, but I have alot of student loan...

What is a home equity loan and what is the process to applying/being accepted for one?

I paid roughly $90,000 for my home. It was a TLC home and I've fixed it up in the past 9 years dramatically. New roof, new walls, siding, porch, h...

How does home equity loan qualification works if you’re self employed?

I am self employed and want to get qualified for home equity loan. What are the qualifications lenders look at. What do I need to show them and have? ...

How do you pull equity out of your home with taking a how equity loan out?

First of all how do you build equity in a home? How do you report the equity to your lender? And lastly how to you pull the equity that you’ve built...

Is the interest on $200k home equity loan used to buy a new primary residence deductible on Sch A.?

We are planning to rent our existing home and pull $200k equity from that home to buy a new primary residence. I am not clear about the $100k deductib...

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Home Equity Line

 

Home Equity Line Knowledge Base

Can I use a home equity line of credit to purchase another home?

I want to open a home equity line of credit. I have 100% equity in my house and an excellent credit rating. I am planning on moving, but would like to...

Should I take out a home-equity line of credit to pay down my mortgage to eliminate PMI?

My husband and I are currently paying PMI (Private Mortgage Insurance) on our mortgage. (We have no second mortgages.) I know we need twenty percent...

Can you pay off a home mortgage with a home equity line of credit?

My sister is asking me for money to pay up her home equity line. When I asked about her mortgage payment, she said she paid it off with her home equi...

What is the typical point for a home equity line of credit?

Does anyone know the typical point for a home equity line of credit ? By point, I mean the up-front fee that is proportional to the credit limit. So...

Can my partner get a home equity line of credit without my signature?

My partner and I are splitting up. We own a home together. Can she take out a home equity line of credit without my signature?

Home equity line of credit: Can I use it for the down payment to buy another house, then sell the first house?

Hello everyone, I need to move to another location. Can I take a home equity line of credit on my existing house to pay for the down payment of a new ...

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Home Equity Loan Rate

 

Home Equity Loan Rate Knowledge Base

Why is the home equity loan rate going up while mortgage rate is going down?

For at least the last couple days? is there chance home equity loan rate goes down?

I live in Canada, What is a good interest rate on home equity loan?

I have a good credit score and I have about 30,000 equity in my home...I'm looking for a good line of credit without any fees to start up. Which ...

Is it possible to refinance a home equity loan to be able to get a lower rate?

Just wondering if anyone had any information about being able to refinance a home equity loan to receive a lower rate and if so, how to go about doing...

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Home Improvement Loan

 

Home Improvement Loan Knowledge Base

Where should I look for a home improvement loan?

We are looking for a home improvement loan to start a couple of projects on our new home. The loan amount should be something around $15,000 to $20,0...

what are some of the details of a mortgage with a home home improvement loan?

Im looking to buy a house that needs a good amount of work. I dont have extra money to pay for the remodeling. But I have read that i can possibly g...

If you have a lien on your house can you get a home improvement loan on the property?

The property is financed through a private party, not a bank or mortgage co. Can you get a home equity loan to fix it up? Or a home improvement loan? ...

Should I get home improvement loan or refinance with cash out?

I want to refinance my home to take advantage of lower interests rates. I also want to renovate my house since it has severe structural problems. ...

Can my daughter pay my home improvement loan?

I do not live in my house where the home improvement was taken out. The loan is in my name only. My daughter now lives there and pays me the home im...

Home improvement loan or home equity loan?

We want to make some small improvements to our home (refinish hardwoods, new carpet). We owe 135k on a home worth 180k. Which loan would be best?

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Home Equity

 

Home Equity Knowledge Base

home equity?

im looking to buy a home. and my brother told me that the home im looking to buy has equity and at closing i can cash out the homes equity. Im confuse...

How do you pull equity out of your home with taking a how equity loan out?

First of all how do you build equity in a home? How do you report the equity to your lender? And lastly how to you pull the equity that you’ve built...

What is a home equity loan and what is the process to applying/being accepted for one?

I paid roughly $90,000 for my home. It was a TLC home and I've fixed it up in the past 9 years dramatically. New roof, new walls, siding, porch, h...

Can I use a home equity line of credit to purchase another home?

I want to open a home equity line of credit. I have 100% equity in my house and an excellent credit rating. I am planning on moving, but would like to...

How does home equity loan qualification works if you’re self employed?

I am self employed and want to get qualified for home equity loan. What are the qualifications lenders look at. What do I need to show them and have? ...

2nd Home is it better to get an equity Loan to purchase or a 1st mortgage?

We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes...

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Equity Loan Rates

 

Equity Loan Rates Knowledge Base

Where can I find the best loan rates for equity?

My parents want to take out a loan and are asking me to do a little research. They need about 10-15,000 to do some work on their home. They have well ...

Why is the home equity loan rate going up while mortgage rate is going down?

For at least the last couple days? is there chance home equity loan rate goes down?

What factors determine whether a home equity loan or HELOC is better, assuming int. rates are similar?

No fees for either one. HELOC is adjustable rate, home equity loan is fixed but you draw the entire amount at once and begin paying interest on the ho...

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Investment Loans

 

Investment Loans Knowledge Base

I want to invest (gold) more aggressively over my allowable earnings. Are there investment loans available?

I am interested in investments like precious metals--silver & gold bullions. Can and will banks use this as colateral against a loan? Any informati...

Can small business investment loans be solely based on the business plan rather than my poor credit?

Im a frustrated engineer looking for a way out by going into business. Im looking to get a small business loan for a business idea I have. Im a frust...

What type of investment loans, if any, are available for people with poor credit?

My husband and I are interested in financing a multi-unit house. He has poor credit. I have good credit, but currently stay at home with our daughte...

Has anyone delt with JMC Investment Loans Firm?

I've been inquiring about getting a loan from this company but I want to know more about them. I can't find much on the internet. Has anyone e...

How do you find banks to give LLC loans for investment properties?

I would like to find some institutions that provide mortgage loans to an LLC but haven't been able to find any that don't require 40% down pay...

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Loans Online

 

Loans Online Knowledge Base

Has anyone ever delt with a Peter White that gives loans online?

I was looking online for loans and this Peter White gives loans. I don't want to get scammed because it almost sounds to good to be true. I can...

How to get loans online with bad credit?

My boyfriend wants to get a loan to get a truck but they either deny him or don't give him enough money. He tried to get $500 but they only offere...

Loans online...?

Is Lendingclub.com a legit website to get loans?

Are there any legitimate online personal loans?

Everytime we look for online loans, we seem to get a full box of illegal lenders. We are not able to obtain loans via convententional means due to hu...

Im looking for any good online loan companies for personal loans? does anyone know of one?

Im running behind on a bill and need to find a loan preferably online because I have no car (long sotry) :( and I cant get around as much. anyone know...

Where can I find a list of all my student loans online?

I have various loans from multiple lenders, and I had a site bookmarked that shows both Federal AND private loans I have taken out... but for the life...

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Equity Mortgage

 

Equity Mortgage Knowledge Base

Is home equity mortgage interest deductible for home office expenses?

The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every w...

Can some who has a mortgage and an equity loan apply for another mortgage?

I currently own a two family house with a mortgage and equity loan up to it's current market value. Can I qualify for another mortgage because I w...

Can a debt collector physically show up to your home to collect on a home equity mortgage?

I was a collector of unsecured debt for years ( I was the guy that hounds you on the phone :(). I know the FTC regulates debt collection through the F...

If I purchase a home in all cash would I get a mortgage or home equity loan?

I am planning on purchasing an investment property with 100% cash. I can purchase the property at 60% of market value. I then plan on pulling a loan...

I am upside down on my mortgage which includes an equity loan?

Is there anyway I could refinance my home to get my mortgage and equity loan combined into one payment at the one of the current lower loan rates?

Is a home equity mortgage the same as a second mortgage?

Are the terms interchangable or are they two different things?

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