Find a Home Equity Loan
A Home Equity Loan is a mortgage loan in addition to any other mortgages you have. In other words, a second (or third, fourth, etc.) mortgage. To get one, you’ll need equity: the difference between what your home is worth and what you owe on it.
Most people spend more time shopping for milk than trying to find the best rates on their savings, credit cards, or loans. Are you earning as much as possible and paying as little as possible? Here’s a quick look at rates this week on everything from mortgages to money markets.
Only 23% of respondents in a recent survey said that it’s OK to stop paying their mortgage if their property is worth less than they owe. But that’s not the whole story.
The Home Affordable Refinance Program, offered by Fannie Mae and Freddie Mac, is designed to help homeowners who have paid their mortgage on time, but whose property values have fallen through no fault of their own.
A reverse mortgage is a mortgage that pays you, instead of the other way around.
While the credit crunch has made borrowing for or against your home more difficult, home equity loans and lines of credit remain popular for those with equity. Stacy Johnson explains what these loans do and if you should consider them.
Our site can't possibly contain every rate online, so search around! Here are a few sites to get you started, but don't forget local institutions too. Pick up a phone book and call around.