Home Equity Loans & Line Of Credit

Q&A
Asked by SHARON
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
Most HELOCs use the Prime Rate as the index, the margin is what is added to the index to determine the effective rate. This margin will vary from one firm to another...
Q&A
Asked by DONNA
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Hello Donna: I'm not 100% clear on the supporting information for your question; was the home sold (and therefore no longer owned by you), or do you still own it bu...
Q&A
Asked by an anonymous user
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
"It depends" is the answer to your question. If you mean in comparison with a 30-year loan, the answer is "probably", due to the fact that most HELOCs have a draw peri...
Q&A
Asked by Vickey
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Vickey: I believe that Mark provided a thorough answer to your question, but I would add one more item since you are looking to take cash out. Take note of what you...
Q&A
Asked by David
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
Depends on what you consider "medium to high" debt ratio. Since HELOCs are held by the originating bank or credit union, they have more leeway on debt ratios, compare...
News  

News  

Q&A
Asked by an anonymous user
Answered by Mark Haynie, Mortgage Broker in Los Angeles, CA
Unfortunately, the 547 score is a lower score than any lender will consider. I recommend that you consult with a professional in the credit repair business and develo...
Guide  

Guide  

Ask a pro a question
Have your question answered by a professional
Characters remaining: 140
$firstLetter
Asking as: $ss.eas.userParams.displayName
Log in or sign up with email
By submitting you agree to our Terms of Service
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com