2006-06-20 14:22:52 · 5 answers · asked by jmpoct03 1 in Business & Finance ➔ Renting & Real Estate
first the bank has to get an appraisal done to see how much you can borrow
then you have to make appointment with a lawyer when the bank has the papers ready to be signed
2006-06-20 14:27:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The best place to get a home equity is your local bank. For example Commerce Bank, Wachovia, Sovereign, etc.
They offer discount rates and no closing costs where mortgage companies are best to go for first and seconds together.
2006-06-20 22:22:32 · answer #2 · answered by sha 3 · 0⤊ 0⤋
The process is basically the same as a first mortgage. You still have to fill out the same paperwork and have income documents checked. However, fees are usually less and most times no appraisal is required if you have good credit. If an appraisal is required it will usually be what is called a "drive by" appraisal. Less work and less expensive than a full appraisal.
http://www.lendermark.com
2006-06-20 21:28:24 · answer #3 · answered by lendermark1 2 · 0⤊ 0⤋
I can help you get that equity loan you're looking for. If you're seriously interested in this contact me at 877-LOAN-103 and ask for Josh
2006-06-21 15:38:45 · answer #4 · answered by Wishkah 2 · 0⤊ 0⤋
It's roughly the same as any other loan, just cheaper.
If you're in california, you can apply at my website online:
www.amirifinancial.com
Regards...
2006-06-20 23:16:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋