If you have a good credit score and are looking for a mortgage loan, you may be able to get lower interest rates. But don't assume that you will only be able to get a costly loan if you have bad credit because you were sick or temporarily out of...
When you say "home equity loan," the best word to use is "equity." Start with the home's fair market value, then take off the first and second mortgages and any other liens on the property. What's left is the equity. This equity can be used as...
Since home equity loans are backed by the value of the home, banks and other lenders see them as a safer investment than unsecured consumer debt. So, the rate of interest on the debt is based on how much this collateral is worth. Even though the...
You are more likely to be able to get a home equity loan than a regular loan. In a home equity mortgage, the amount you borrow is secured by the amount of equity you have in your home. When applying for a mortgage, there are a few important...
Home equity mortgages are loans that are backed by the value of the home. Home equity is the difference between how much the house is worth now and how much is still owed on the mortgage(s). A home equity mortgage is also called a second mortgage...
Home mortgages are loans that are used to buy a house. The house itself is used as security for the loan. A home is a very big investment that most people make only once. With home prices going up and loan rates going down, more and more people...