Home Equity Loans & Line Of Credit

Q&A
Asked by Ricardo
Hi Ricardo. With a small balance the rate is less important than the transaction costs (closing costs). So it's important to know how much you want to pull out (and wh...
Q&A
Asked by wkrogmeier
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
There's more to consider than just the interest rate in any discussion on the benefits of making additional principal payments on a first mortgage, compared with using...
Q&A
Asked by David W
Answered by Matthew Marshall, Mortgage Broker in Elkhorn, NE
You should be able to refinance the property, assuming you can qualify income, debt ratios and credit wise, by yourself, then give her the proceeds. Not extremely dif...
Q&A
Asked by pkesler
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
In my experience, doing a VA construction loan at all is akin to hitting the lottery the day you see two unicorns and the Loch Ness monster. It COULD happen, but it's...
Q&A
Asked by an anonymous user
Answered by MoneyTips Writing Staff, Financial Adviser in Los Angeles, CA
The root of purchasing or refinancing your home is having a good credit score that is free of blemishes and late payments. You are a currently a free member of Credit ...
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 Debbie
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
A new ~ 85K loan is likely your best bet assuming the costs for the refinance are low. A lot depends on the costs, how long you plan on keeping the home, what you wan...
Q&A
Asked by Rolando Escamilla
Answered by Caroline Gerardo, C G Barbeau in Newport Beach, CA
If property has equity you could combine with first and do a cash out refinance. Or- Existing lender MAYBE will offer new terms. Or- shop a credit union that you are a...
Q&A
Asked by Debbie
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
HELOC pricing depends on several factors: Credit scores, Equity, Prime Rate, and the margin (the "markup" over prime rate). Prime is 3.75% now, so to get a HELOC ...
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