Home Equity Loans & Line Of Credit

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...
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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 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...
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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...
Q&A
Asked by Charles Jones
Answered by Mark Haynie, Mortgage Broker in Los Angeles, CA
Based on the 2.5% rate of your HELOC, it appears to be PRIME -.75%, which is a pretty sweet deal. I don't know if your initial interest-only term was for 15 years or...
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Q&A
Asked by roger taylor
Answered by Chad Freeman, Branch ManagerPRO+ in Bethesda, MD
Hi Roger: It should be possible and you can even refinance it with a new home equity loan. My advice would be to find a competent loan officer that you feel comfort...
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