Home Equity Loan

Would home equity loan rates possibly go down some more in the next few weeks?

I Have a variable rate Home Equity loan . The Interest rates are killing me now. What should I do ? I want to know what bank has the best rates right now .

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 home equity loan (vs. borrowing steadily over time in smaller amounts on a HELOC). No worries with equity, etc.

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.

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?

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?

Good site to compare home equity loans rates? Is there one site where you can easily compare interest rates?

how do i find a source that lists the best rates for a home equity loan without having to apply for the loan every web site is tied to a bank or lending service. i'm looking to shop for the best rates before applying or giving out personal info. any suggestions?

Are there any secrets to getting low interest rates on a home equity loan?

What has less of an interest rate home equity loan or regular loan?

Can you refinance an adjustable rate home equity loan that was taken out as a 80/20 loan last year?

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?

Home Equity Loans Interest Rates? Im wanting to finance a pool with a home equity loan. Does that loan effect my current interest rate on my mortgage, or are they seperate?

IS a home Equity loan rate lower or higher then a mortgage rate? ty

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.

We have $13,000 in credit card debt (just one card) and $30,000 on a home equity loan. How do we? attack this debt the smart way? The credit card has a pretty good fixed rate. The home equity loan is adjustable and it is creeping up steadily. So far, I've been paying extra on both debts. Would it make sense to pay more on one than the other?

Any tips to getting the lowest interest rates on home equity loans?

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.

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.

Tips to getting the lowest interest rates on home equity loans?

Are there any secrets to getting low interest rates on home equity loans?

Does a 4.9% credit card loan beat a 9.2% home equity loan in terms of money savings and tax benefits? I want to take out a $10,000 loan and I want to see if the credit card deal is better for overall savings. It's a lower rate than the home equity loan, but will the higher APR of the Home Equity loan paired with the tax breaks be better than a lower credit card(i.e. non-deductible interest) loan? The rate is for the life time of the balance until paid off. It is primarily for balance transfers but the money can be used in any way I'd like.

If I want to apply for a small business loan, is the rate higher than home equity loan?? Which is a better way of taking out the loan.. small business loan?, home equity loan?, or personal loan? I am starting a corporation and I need a startup money.. Do they give out loan for a new corporation? or do i need to personally guarantee it??

Should I get a home equity loan at 7+% or keep moving credit bal. to new cards with 0% intro rates, 3%fixed? I owe about 20k in credit card debt, 8k of that is at 2.9% or 3.9% til paid off! The rest is at 0% til April '08. By then I'll get more offers for new cards, with bal. transfers free, and often 18 months at 0% I could keep moving the balances and not worry, since I've done this for years and it doesn't seem to have affected credit score enough to matter. I know there are tax advantages for home equity loans, and I could easily get one, but is it worth paying 7+%? Is there a math calculation to figure this out? Another factor: I'll probably sell the house within 10 years and pay everything off. A complete cash out refi. doesn't look good because my mortgage is at 5.38% and would surely go up to at least 6%

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 :(

Is this a good time to get a Home Equity Loan? I have an adjustable rate loan for my second mortgage, and I want to transfer that balance into a fixed loan with a lower interest rate - and 8-9% would be lower than my current rate. Is this the best way to go?

When shopping for the best rate on a home equity loan what are the key questions to ask the potential lender?

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.

mortgage vs. home equity loan situation? my father and his two brothers were gifted my grandfather's house when he passed away. i told my father i would like to take the house from them so he moved the house from my grandfather's trust to my name. in return i need to pay them for the house. however, because i will now already own the house, can i still get a mortgage to pay them or can i only get a home equity loan? i ask because mortgage rates seem much lower than loan rates. are there any other options?

Is a Home Equity loan worth getting to pay off credit cards? I have some credit card debt on a few diffrent cards. I'm getting tired of trying to keep track of when they are due and paying the high rates. I have owned my home for over a year and a half, and I was looking at and Home Equity Loan, which it appears the APR is at 7% with most banks. Would it be worth getting to pay off my credit cards? And, If I wanted to sell my home, would there be any probelm with having the loan?

My tax value on my home has increase. Should I refinance my first home and add the home equity loan? I left off the following information about my previous question. The first mortgage of $190,000 has a fixed rate of 5.375% and the home equity loan in the amount of $35,000 has a variable interest rate currently at 12.13%. Please see my earlier question for more details. Thanks so much for your help!!!! I want to pay my house off as fast as I can!

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?

Can default on a home equity loan cause foreclosure? I was coerced into taking a home equity loan along with a mortgage refinance four years ago. The max on the loan was 15,000, of which we spent around 9,000. Since the time we did this, the monthly payments have continued to climb because of the high interest rate, and late fees. The loan has been maxed out for several months. In February we turned the account over to a credit counseling agency we are using. Today I received a summons that will account for nearly 20,000. I have never had a late mortgage payment; can I end up losing my house because of the home equity loan?

Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)? Consider this: 1. I have $30k in credit card debt. 2. I have a 1st mortgage for $200k (4%) and a Home Equity line of $170k (at prime rate) with no additional credit available. 3. I am buying another house at the end of April. Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is? I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true? Thoughts? Opinions? Alternatives?

Home Equity Loan Comparison? Is there a good site to compare rates on home equity loans?

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.

What are the alternatives after being denied a HELOC / Home Equity Loan from a Sub prime Lender? Lets assume that you were denied for cashflow concerns or poor credit and that you had roughly 50K in equity in the home and you needed a loan for around 5-10K. In addition what type of rates would these alternatives charge? The reason I ask is bc I understand that sub prime lenders denied loan applicants at a higher rate (deny a larger % of applicants) than prime lenders.

Got a home equity loan 13 months @ 7 1/2 %. Where can I go to check to see what the current rate is.? Is it possible to get another equity loan at a lower rate to pay off the 7 1/2% one.

With the interest rate decline, is this a good or a bad time to get a home equity loan? I want to pay off my car loans but I don't know if the interest rate decline helped or hurt me in my attempt. I can handle the payments but I wanted to save more and put more into investments. With the equity loan I can do that, but I don't want to do it if it is a bad time. Please tell me your thoughts. Jeff, good point, but you're forgetting that refi-s and equity loans are tax deductable.

What is the typical rate for good credit on a home equity loan?

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?

My tax value on my home has increased. Should I refinance my first loan and add the home equity loan? We relocated and purchased our home about a year and 7 months ago in an area that was more expensive than we were coming from. The purchase price was $239,000, we put down $14,000, and took a home equity loan of $34,000 to finance the rest of the purchase price and to avoid PMI. I recently submitted a question about whether or not to start paying down the first mortgage or the home equity loan, and got great advice, but I am wondering now that my tax value of my home has increased in January from $200,000 to $279,000 due to reassessment, (I know it wouldn't sell for that now because we recently had comparables done in January), would I save money by refinancing my first mortgage and adding in the home equity loan so the total amount has a lower interest rate? My husband thinks we have to wait 2 years before we can refinance, and I'm not sure about that, but that would be this July. My goal is to pay off our house as soon as possible.

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?

Is it better to keep an adjustable rate at 9% home equity loan vs. a fixed rate at 6% ? The adjustable rate has been as low as 5%, the plan we have can have the loan paid off in 3.5 years. Would it be beneficial to change to a fixed rate at 6% now, because of closing costs and fees?

Get rid of home equity or car loan? I have a dilemma. We have a $14,000 home equity loan at 7.25% apr, a car loan on a 7 yr old car for $9500 at 5.99% apr and $90000 in savings at 3-4% interest rate. We are currently having a baby and have short-term goals of starting a business so we don't want to get rid of too much cash. We probably will only be in this house for another 3-5 yrs. Should we pay-off the home equity loan or the car loan or both? Thanks for your replies.

To pay off my mortgage, should I pay more on the principal loan or pay more the home equity loan first? My first mortgage has a lower interest rate but a much higher amount. The home equity loan is a smaller amount but at a much higher interest rate.

Fixed Rate Home Equity Loans online? Wheres a good place to get fixed interest rate home loans online?