Links to fixed rate mortgages and other home equity loans…
Paul W asked: I currently have a 10.5% Home equity loan but would like to get a lower rate. Since there is much less equity in my home today than when I purchased, I would need to pay half the balance to get a HELOC at 5.5% and achieve the necessary LTV of the home. [...]
Continue Reading Are there negatives when transfering balances from a high rate HE loan to a low rate card card?
Tags: Heloc, Home Equity Loan, Low Interest
Michael G asked: I have a current mortgage of $135,000 on my primary residence. This single family home is valued at $300,000. I want to buy a piece of vacant land for $145,000. I have $40,000 to put down on it, so would need a loan for $105,000. I’ve been told to go with a [...]
Continue Reading How would you finance a vacant land purchase with this scenario?
Tags: Home Equity Loan, Interest Rate, Rate Loan
CHERI W asked: I have to refinance my ARM in one year(not for cash back but to lock in at a fixed rate) Should I wait until after I do that to get a loan(for home improvements and vehicle)? My mortgage guy says “no” That I could get the loan now and it would just [...]
Continue Reading HELOC ,Home equity loan, or Nothing?
Tags: Fixed Rate, Home Equity Loan, Mortgage
mickey_bigdaddy asked: My goal is to: a) Reduce my monthly morgage payment OR b) keep the monthly payment around the same but, shorten the term to 15 yrs. I have a 6.4% 25 yr. “home equity loan” (already did a zero cost equity refinance in 2004) on my home in Texas. I owe about $181,000 [...]
Continue Reading What can I do to my home mortgage payment?
Tags: Goals, Home Equity Loan, Mortgage Payment
Andrew Bicknell asked: Often referred to as a second mortgage a manufactured home home equity loan gives the homeowner the option of borrowing money against the equity they have built up into their home. These types of loans allow the homeowner to borrow up to $100,000 and deduct the interest paid on their yearly tax [...]
Continue Reading Advantages of a Manufactured Home Home Equity Loan
Tags: Equity Line Of Credit, Home Equity Loan, Manufactured Home
Jason from TN asked: I have a 80/20 loan. Both are fixed. The 80% loan is at 6.85 fixed and the 20% is at 7.25 fixed. The house is appraised at 168,000. I owe 125,000 on the 80% loan and 25,000on my 20% loan. Do I have enough equity to refinance to a lower rate [...]
Continue Reading Do I have enough equity to get a home equity loan?
Tags: Home Equity Loan, Nashville Tn, Recession
dar asked: Loan start June 2005 –$20,000 balance—15 year fixed at 6.85%. I have outstanding credit. AND what percentage point drop would it be worth my time/money to refinancing again. Thanks.Instant Auto Insurance Quote
Continue Reading I have an outstanding home equity loan – I’m paying 6.85%. Whats the going rate now?
xredhat88 asked: I want to buy an investment property I found for $50K. If I take out a home equity loan and use 100% of the money borrowed to buy an investment property can I list the interest I pay on a schedule E? If I take out a little bit extra to fix the [...]
Continue Reading Can I use interest from home equity loan on a schedule E if 100% of the funds went to purchasing a 2nd home?
Ricky Lim asked: Have you ever heard about fixed second mortgage? Most of the people who know about it are those who complain about the rising payments from their home equity lines of credit that are attached to every borrow you make.Whether you have a bad credit card or not then you will still be [...]
Continue Reading Fixed Second Mortgage Rates
Ray Heinson asked: A refinance with cash back from your home’s equity is not a phrase you hear much of nowadays due to not a lot of folks or locations gaining in appreciation. It is vital to understand exactly what the term “home equity” actually means.As an example, you own a house and it is [...]
Continue Reading Mortgage – Home Equity Loan Or Line of Credit in Tight Markets
Tags: Comparable Property, Home Equity Line Of Credit, Home Equity Loan
