Home Equity Loans
Home equity loans are lending vehicles that enable a homeowner to borrow against the value of their home minus any outstanding mortgage debt. In essence, this is a loan against the value a homeowner has already paid for. If, for example, a home is worth $100,000 and a homeowner has $50,000 in an outstanding mortgage debt, an equity loan might be feasible in the amount of $50,000. Home equity loans can be used by homeowners to achieve a number of different goals. Many people take out this type of loan to fund home improvements, pay for vacations or even fund higher educational pursuits. Equity loans can include revolving lines or credit, full refinance loans or second mortgages.
A stated income HELOC, (home equity line of credit) uses the equity in your home as collateral for a revolving credit line. Often, HELOCs... »
It is rare to secure a stated income second mortgage, but it is possible if you have a high level of equity in your... »
The qualifications for a renovation loan will vary from one lender to the next. In most cases, you will have to take out the... »
The big benefit of a 100 LTV home equity loan is that you can borrow the entire amount of the value of your house.... »
More Articles in Home Equity Loans
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