urhomeequityloan

Hispanic with negative home equity and low-income – reason for loan approval? A home-equity loan was approved even though the home had negative-equity and the family was low-income(both can be proven). Lender did not consider the children as liabilities, even though the 1040 shows them. Husband is Hispanic and employed, wife is non-hispanic and she is unemployed. Wife was required to sign on mortgage and note as a condition of the loan, and she was listed as Hispanic even though she told the... Read Full Story

How easy is it to get a home equity loan? I would like to use that to pay off cc debt.? Im not quite sure if I should be going to a mortgage broker to apply for one, or just go to each bank individually? Also, are there any out there that do not have a repayment penalty? I am also assuming that once the property sells the loan needs to be automatically repaid. I would also like to know how this will affect my credit score. Is it better to have an X amount on credit cards, or have that same... Read Full Story

What is the current VA interest rate for home loans? What is the current interest rate on FHA home loans for first-time homebuyer? What is the current interest rate for home loans? Where can I find the current average interest rate for home equity loans so I can decide if I want to refi? What is the current VA interest rate for home loans? Read Full Story

What is a better rental investment plan 15 or 30 yr loan? Putting 20% down should I either get a 15yr loan or a 30 yr loan. The property would cost about 170K and would rent for conservatively $ 1000 a month. Putting the #’s into the calculator below http://www.finance.cch.com/sohoApplets/MortgageRentvsBuy.asp On the 30yr loan my value of investment goes into negative even though the rent would carry my mortgage costs. However, when I do the 15yr my value of investment is really high but... Read Full Story

What is the difference between a home equity loan and a home equity line of credit? We need to get access to $ 30,000, but not sure of the exact amount. Would it be enough to have the home equity line of credit? Answer by Jimmy B A home equity loan you get all the money up front. A home equity line of credit you have the money available and can use it as needed. With a loan you pay interest on the whole amount. With a line of credit you pay interest only on the amount that you have used... Read Full Story

Can I pull out the equity in my existing home to purchase another home ? This is the situation. We’ve had our house on the market for about 6mths now. We’ve lowered it put money into it and everything. We really want to move to Altoona, PA and away from NJ where we are. Can I pull out the equity from our house now then rent this out and move to PA? FYI I’ve only been here 1yr but we have about $ 40,000 in equity right now but we have an FHA loan does that matter? Answer by hagariseccles... Read Full Story

How do you deduct a home equity loan? It is a interest only loan Answer by tma you can deduct the interest paid on a loan of up to $ 100,000 of indebtedness. the interest is deducted with “mortgage interest” on schedule A, if you are itemizing your deductions. How can I get a home equity loan with bad credit? how can I get a loan without alot of equity in my home and having poor credit? Can I deduct interest on more than $100,000 on a home equity loan? How long are terms for a home... Read Full Story

I want to get a zero down mortgage in Arizona.? I’m planning on moving in April. I decided I want to get into the housing market now, while everything is on sale. I don’t have a down payment. I currently pay $ 1150 a month for rent, so I figure if I shoot for a $ 900 a month payment, that will compensate for some home expenses without affecting my budget. I’m considering “lease to own,” but would rather just own. A piggyback loan might be an option, but it appears those are being phased out... Read Full Story

Can my daughter pay my home improvement loan? I do not live in my house where the home improvement was taken out. The loan is in my name only. My daughter now lives there and pays me the home improvement payment to me and I pay it to the lender. Is this legal? I believe I asked the wrong question. My lender is Citi-fianial.. Please help. Sry about the last question. Keep it simple lol ty much! Hugs Answer by beaver yes as long as she makes the payments Can you apply for a Home Equity... Read Full Story

home equity fixed or variable better option now? I have 65000 on equity line of credit fixed at 7.45% the variable rate is at 4.24%. If I switch it over I would be able to apply the extra 150 a month to the loan. is it better to switch or leave as is? It is a 30 year loan. If rates do go up how soon and I would have paid off a good portion. Answer by Page P http://answerr.isimo-spain.com A very informative website, you can also get much information in website home equity fixed or... Read Full Story