Home Equity Loans & Line Of Credit

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Q&A
Asked by Tina
Answered by Brenda Robinson, Financial Adviser in Easton, PA
A home equity loan lets you borrow a lump sum and pay it back over a fixed term at a fixed interest rate (like a mortgage or car loan). A HELOC works more like a cred...
Q&A
Asked by melvin-taylor
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Answered by melvin-taylor
What happens to the equity that is in the ones home if not utilized: ex: I took out approximately 100K in 2005, and left another 100K in equity. My question is what h...
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Q&A
Asked by an anonymous user
Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
I presume you own your townhome free and clear, and, if so, that's your strongest factor. Your income, while not exceptional, may be sufficient to qualify if you have...
Q&A
Asked by marygituanja
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Answered by dskow
Mary. you can contact any lender to complete an application. Every lender will use their own forms as their names . identification information is part of the applicati...
Q&A
Asked by an anonymous user
Answered by Justin Clark, Mortgage Broker in Moreno Valley, CA
A line of credit is interest only. You DO have to make payments though. If you borrow the max amount that you are allowed on your Line of Credit,, then the only way yo...
Q&A
Asked by Carla Truett
Answered by Kendrick Walker, Mortgage Broker in Santa Rosa, CA
Hello Carla, How much do you owe on your property and then how much is your property currently worth (based on recent comparable sales, an appraisal, good Broker est...
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