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 out for 60% of the market value. Would it be considered a mortgage or a home equity loan? A mortgage currently is about 300 basis points lower [...]

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? Interest on [...]

We are thinking about getting a home equity loan. We need a new roof and our AC unit is making our electric bill sky-high. We’ve never had a home equity loan before, and I’m just wondering if we should go with the company that holds our mortgage, a different company, or does it matter? Any [...]

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 [...]

When getting a home equity loan does the bank or credit union do an appraisal on your property? Yes, of course, they need to determine how much equity there is. addthis_url = ‘http%3A%2F%2Fwww.ucufutsal.com%2Fhome-equity-loan%2Fwhen-getting-a-home-equity-loan-does-the-bank-or-credit-union-do-an-appraisal-on-your-property’; addthis_title = ‘When+getting+a+home+equity+loan+does+the+bank+or+credit+union+do+an+appraisal+on+your+property%3F’; addthis_pub = ”;

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 [...]

The value of my home has declined but I would like to get a lower interest rate, especially on the home equity loan. Help. hmm… not sure if they’ll refi you, but I called my bank and asked for a loan modification and dropped my interest rate a couple points.. I only went out of [...]

I know a HELOC is a "Home equity line of credit" but what is the difference between that and a "Home Equity Loan"? HELOC stands for Home Equity Line Of Credit, It is a revolving line of credit much like a credit card, the account is revolving for ten years,then converts to a fixed rate [...]

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. depends on how fast [...]

My credit isn’t perfect and I want to get a home equity loan. What are the qualifications? What lenders look at if you have bad credit? How can i increase the chances of getting one, without waiting for credit to go up? Would appreciate if you can answers even one question. I am desparate for [...]