Home Equity Loan

Is it better to get a home loan thru home equity line loan? I am thinking of refinancing and Chase Bank is ready to give a 10 yr 170k home equity loan. Is this a better than my existing home mortgage loan. Is there anyone who has suggestions for this.

Can my wife take a home equity loan for personal use on a jointly owned home without my consent? My wife earns more money than me. The home loan is in her name but the home title is in our joint names. Can she take a home equity loan without my consent?

Home equity loan or refinance existing home loan? My husband and I are looking into a home equity loan or refinancing our existing home loan. We own a doublewide on 4 1/2 acres that has been converted to real property. Which is better? A home equity loan, or refinance our existing loan? Where do we start? What should we know? And what we should be careful of?

Can I pay off a home equity loan with my credit card ( lower interest rates!)+ how do I do it? I have an offer from a credit card co with 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. What to do?

can i get a home equity loan on a home i just bought that i was gifted equity in 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 the same time as we get our home loan or do we have to wait and how long?

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, heating system, well etc. My home and property was valued at $275,000 last year. Does equity play a part in this. Am I eligable for an equity loan? I don't want to go into it without fully understanding what it is--I also don't want to go to my banker with stupid questions....Another thing. Im looking to build my own home--hence the loan inquisition.

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 debt. Our dilema are the student loans. And paying them. I have heard about home equity loans and heard about being tax deductible. How do they work? Do they look bad on your credit? How much can you borrow ? Does it add to the years to pay off your house? We only have eleven years left to pay as it is right now. Just wondering what is a good option. I even thought that after I graduate and am working that my pay checks can go all to my student loans. I am just looking for some good ideas without having to stress out about debt and bills and such. We are trying to pay our bills off and so far have done good. But those student loans are looming in the background.

What is the difference between a mortgage and a home equity loan? I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I'm not interested in HELOC's.

Can a fixed home equity loan drop my credit score? I requested $10,000 dollar home equity loan to roof my house. My FICO score was 780 until approx March when I applied for a home equity loan at a fixed rate. Now my FICO score is 740. What happened? I am never late on any payments. I pay over the minimum amount do on my card every time.

Can you have a home equity loan and a home equity line of credit? My husband and I have two mortgages (an 80% and a 10%). Our banker uses the term for the "second mortgage" interchangeably with a "home equity loan". Is it possible for us to take out a home equity line of credit at the same time we are paying the second mortgage?

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 up out of the home with out taking a home equity loan out? Thank you in advance for any help that you can give me.

difference between a home equity loan and a consolidation loan? What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?

Can I get a home equity loan with no seasoning requirements with bad credit? We just purchased a home and want to consolidate some bills to create a better cash flow. The problem is we've only been in the house for two months. I'm being told that most companies require 6 months to 12 months seasoning to get a home equity loan. Any suggestions?

Can you get a home equity loan while in a debt management program? I just entered a debt management program to get control over my credit card debt. I have done this seperate from my husband. Only my credit is affected. Just after I entered into the program, my husband started showing interest in a home equity loan to consolidate our debt (his credit card and vehicles) and do home improvements. In our marriage I am responsible for my own debts, but I am wondering if being in the DMP will affect the chances of us obtaining the Home eq. Loan. Serious educated replies will be very much appreciated.

What is better, home equity loan or line of credit on home I own outright? I just finished building my house and I have no mortgage or anything as I had enough cash to buy the land and build outright. But, I have no money left to landscape and have some medical bills I would like to pay off. Can I get a home equity loan or line of credit on my house? Which is better?

Can you use a home equity loan for something other than a home? I need a loan & some people had suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it's not for a home & I don't have enough collateral for the amount I'd like to borrow. I have a great credit score over 700, but also have student loans & other credit card debt, which I am very good at paying at, & make enough to make the payments comfortably. If I can't get a home equity loan, what kind of loan can I get, & at what amount & rate should I expect? I've looked around online, but all the bank terminology does nothing but confuse me, so anyone who could explain this a little more "user friendly" would be helpful! It's not for home improvement. Actually, it's basically a business expense, but I'm not sure if a bank would consider this a business type of loan. Oh, & one *minor* detail... I don't own a home :(

How long do you have to wait for a home equity loan? How long after purchasing a home do you have to wait to take out a home equity loan? Do you have to re-close? Are there loan you can take out beside equity if you own a home?

What would be better, a home equity loan or refinance at lower rate to add on to my home? I'm wanting to add on to my home but I've never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?

What are the benefits of a home equity loan? What are some benefits of a home equity loan? How does it work? Whats a good interest rate for someone with OK credit? My is good, but my husbands is fair. We are planning on consolidating high interest cards and possibly using sometowards a newer vehicle.

Should I take a home equity loan to pay off the 17,000 in medical bills I have? I got these medical bills from a recent surgery and its causing a huge financial strain on me. I make enough to live comfortably, but not enough to live comfortably and pay this incredible amount of money every month. I am just wondering, since interest rates are so low right now, is it the right time to take out a home equity loan?

what is the best fixed rate for home equity for 15 years for100k loan with excellent credit? I have presently home equity loan 100k @ 7.49% as at present rates are better I want a fixed rate loan 15 yrs what best rates i can get for non document loan , I have 790 credit score what will be closing cost(if possible my monthly pament for 100k fixed) I live in new york state. Thank you.

Can I get a home equity loan with 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 improve the house. I was approved for $40,000 more than purchase price and only want $20K max. My credit is not perfect... I'm trying to find out the chances of being able to get a home equity loan with a first mortgage. The house is valued $277K and the loan will be for $229000. Any help would be great!

can you refinance a home equity loan to lower the payments? My mother signed a home equity loan with my grandfather who has just passed, and I am trying to help her pay the bills but the payment on the house is too high. If she refinances could her payment go down? Are there any other options, or any kind of loans or help from anywhere? I am totally clueless this was very unexpected.

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 that.

Will I be able to get a home equity loan if I am currently in a forebearance agreement with my mortgage? We will be listed as "entering foreclosure" until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?

How Soon Can I Take Out a Home Equity Loan or Refinance After a Cash Purchase of a Foreclosure? The house is only 10k. So if I pay 10k cash, how fast can I do a home equity loan for that 10k? I need to make repairs as it is a foreclosure in poor condition. Can I do a refinance loan and get more than I even paid for it if it appraises higher than 10k, which it will? Thanks for any help

My parents are taking out a home equity loan to lend me money to start a business, does anyone get taxed? I'm looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money? I don't have any assets so I wouldn't be able to get a loan for the amounts of money I posted.

Should I get a home equity loan to pay off back taxes? I need to pay off about $30,000 in back taxes. Is it better to take out a home equity loan, cash in stock, or borrow or liquidate a 401K?

How long after buying a home will i be able to take out a home equity loan? I am wanting to buy my first home and the home i found needs work. I want to take a home equity loan out to make the repairs but i dont know what kind of time frame i will be looking at to get one. Any advice would be much appreciated.

What is the difference between a HELOC and a Home Equity Loan? I know a HELOC is a "Home equity line of credit" but what is the difference between that and a "Home Equity Loan"?

How 2 solve for potential amount of credit available for home equity loan? Here is the problem: Ramon owns a home that was appraised for $132,600. The balance remaining on his existing mortgage is $43,260. Ramon's credit union is willing to loan an amount up to 70% of the appraised value of a home. Based on this information, what is the maximum potential amount of credit that's available to Ramon for a home equity loan?

is there anywhere i can get a home equity loan with bad credit? my boyfriend and i have bad credit but we own a $85,000 home with no mortgage. the house is paid for. we were looking into getting a home equity loan to pay some back bills off and do home improvements. is there anywhere that we could get a loan even with bad credit?

How does doing a cashout refi or home equity loan affect AMT risk? We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest...does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in the 1040 or 6251 affect this)? Is there a better approach we could take?

should I pay down my home equity loan or pay off credit cards? Hi. My home equity loan is an interest only adjustable and I am currently paying something like 7.02 (I have a rate of 1.25 below prime). I also have credit card debt on two cards, but they are fixed at 4.02 and 4.99. I know its usually better to not have the credit card debt, but since the rates are fixed and lower than my heloc, should I work on paying the heloc off first (I owe twice as much on my heloc as I do on my credit cards). Thanks.

How much will a Home Equity Loan cost? I am considering using a Home Equity Loan as down payment for the purchase of a second property. I have two questions. Is it true that the interest will be tax deductable if I take out no more than 100k? Secondly, how much typically will a Home Equity Loan cost me in fees?

where is the best place to get a home equity loan besides a bank? I have already tried at my bank and was denied. Does anyone know a good tried and true place to get a home equity loan?

Is it true you can get a home equity loan after 30 days? How long do you have to live in a home that appraised higher than what you paid to get a home equity loan? Our credit is now damaged, is it still possible?

Should I get an home equity loan or should I save my money and pay with cash? I own a house that will be paid off next year. I want to do some remodeling in my house like a new kitchen, all new travertine floors, new doors and some other things. The total of my remodeling will be about $45,000 including all the labor and materials. My question is: Do I get a home equity loan for 7% to8% or do I save my extra cash and pay for the remodeling in full in about 2-3 years after I pay off my house? If I get a home equity loan for about 5 years, I will pay nearly $10,000 in interest alone. That’s a lot of money! Any ideas? P.S. I have no debt except my house loan. No credit cards, no cars, no school loans, no nothing!I have a credit score of 780 and I don't like to pay interest if I don't have to!

Is a home equity loan easier to get if your credit is not that great? I want to do some improvements in my house and I think a home equity loan will be the best thing for me....Suggestions anyone....

Best way to get money thru a home equity loan? I own a home and want some extra money.I have about 200,000 equity on my home and my loan is for a 100,000.My credit is not the best in the world.I have 2 credit cards total of 1,700 dollars and owe a few doctor bills totaling 730 dollars.My house payments are current and I have no car loan.My salary just barely pays my bills.Maybe I can leave some money in a high interest account to acquire some money from the equity loan too and use some of the money to do a few things to house but not major remodeling just new carpet,paint landscaping etc etc.What is the best way to get some extra cash,I am a single mom and only have my one income coing in and can't take another job because I have to take care of my other responsiblities as a mom.Please no loan companies respond. Just want to make my quaility of life a little better.Thanks anyone.

Do you need good credit to take out a home equity loan? Will bad credit affect chances of being considered? My credit is poor but I have probably $80k in equity in my home. Will a bank refuse to approve a home equity loan because of bad credit?

After purchasing a home, how long must I wait before I can be approved for a Home Equity Loan? I'm interested in buying an invesment property but the home needs a little work. I'd like to get a Home Equity Loan to cover some of the renovation costs. Would I be able to get a Home Equity Loan immediately after closing on the mortgage? If not how long must I wait before being approved for the Home Equity Loan? I'm interested in buying an investment property but the home needs a little work. I'd like to get a Home Equity Loan to cover some of the renovation costs. The asking price of the home I'm interested in is 30% under market value. Would I be able to get a Home Equity Loan immediately after closing on the mortgage? If not how long must I wait before being approved for the Home Equity Loan? The asking price of the home I'm interested in is 30% under market value.

Is a Home Equity Line of Credit or Home Equity Loan used to buy a second home tax deductible beyond $100,000? Would a Home Equity Line of Credit or loan used to buy a home be considered a Home Aquisition Debt instead of a Home Equity Debt?

what happens if you foreclose and you have a home equity loan on the property? what could happen to you if you foreclose on a property and have a heloc on the property. it is in arizona, would i owe the money still to the home equity loan company,

Is it safe to leave a home equity loan unlocked? I have a home equity loan for $100,000 locked at 7.25%. I decided to unlock it for $200 and relock it a a lower rate, only to discover the new rate was 7.35%. If I leave it unlocked the current rate is 5.49% (prime minus 0.51%). I had short term money in the 1980's at 18-21% and cannot afford that now. Could this happen again? Is it safe to unlock this money and leave it unlocked? Or should I stay with the current locked rate?

Should you use a different lending company when applying for a home equity loan? We are going to apply for a home equity loan so we can put a pool in.Should we apply with our current mortgage company or someone new. Does it matter?

Home equity loan interest is tax deductible? I have two mortgages - one for primary residence and one for investment property. I know that interest payment on both loans are tax deductible. But if I get a home equity loan against my primary home to pay off my high-interest car loan, the interest on this home equity loan is also tax deductible?

Does a co-signer need to be on the title to apply for a home equity loan or a home equity line of credit? I'm thinking about applying for a home equity loan or line of credit for my home but am discouraged by my below average credit score. To refinance, any and all applicants must also be on the title document, so would the same rules apply on a home equity loan or line of credit?

Can I get a home equity loan or do I have 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 like to redo my loan, and add my car payment on with it on a 15 year loan. The problem is that the mortgage company had a stipulation that they got to do my 2nd and 3rd mortgage, which they want to charge thousands of dollars in fees to do. Can I go through my local bank and do a home equity loan using my house as collaterol, and pay of the mortgage company?

Which would be better for us, taking out a home equity loan or refinancing? My husband and I want to take about $15,000 to pay off debt and renovate our home, which we just purchased last July. Our current interest rate is 7.25% and we owe about 65k on our home that appraised at 100k. The problem is that our credit is not great and not well established. Which would be the best option for us, home equity loan or refinance?

whats the difference in a home equity loan and a line of credit? I know what a home equity loan is but not sure about a line of credit-which one would you recommend?

Can I pay my Ameriprise Financial Home Equity loan in person or must I mail it in? If you don't have a home equity loan with them or work there then please don't answer. Thanks.

if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.? I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i am not looking for any cash out.

Can someone simplify a home equity loan for me? Lets say I buy a house for $150,000, and its appraised value is $200,000. I've owned the home for a year. Is this enough equity to get a home equity loan?