yea so are there closing costs on a home equity loan? If I have crap credit is there a place that could help me. We are talking badd credit. Basically I need to pay off some debts and catch up on some bills. Need about $10,000.
2006-11-02 16:31:53 · 3 answers · asked by BingoBanggoBongo 1 in Business & Finance ➔ Personal Finance
My bank charges $300 to open a home equity line of credit. They will waive the fee if I keep the line of credit open for two years (don't have to tap the line of credit, i just have to keep the account open for two years.).
2006-11-02 23:24:00 · answer #1 · answered by derek 4 · 0⤊ 0⤋
it really is not the case: each and every loan has last costs - not something is loose. in a lot of situations even as that is marketed as "no last fee" that is because the non-public loan Officer is getting an advantage from the business corporation for putting you in a larger cost than you qualified for, or they tucked costs into different places like "admin costs" or others. the version is that typically a house fairness Line Of credit (or HELOC) is a private loan that you're allowed to charm to on more effective than once. that is totally reminiscent of a mastercard it really is secured by technique of your own home. once you've a decrease of $10K, you are able to start at $0 and spend what you want. you will pay off the soundness and then re-cost on the credit line. they in a lot of situations actually have an adjustable cost it really is a chain volume connected to a nationwide index (operating example, "2+LIBOR" skill your cost is two% over the LIBOR index or perhaps as the LIBOR differences, so does your cost). in spite of the indisputable fact that, some HELOCs have fixed rates besides. a puzzling and quick cost 2d loan is a one-time deal. you're taking out a 2d loan and get the money (or pay off debt) yet you won't be able to take out more effective money later on without refinancing the non-public loan completly. there are many more effective transformations: those are in basic terms the easy ones. if you're wondering about doing both a 2d or a HELOC, i'd strongly recommend you communicate over such as your economic corporation or loan broking service to stumble on the experts and cons of each and every software. They both might want to be large searching on what your ultimate objective is. good luck!
2016-12-05 11:59:33 · answer #2 · answered by vaibahv 4 · 0⤊ 0⤋
Go back to your original broker! She got me $15,000.00 on my equity loan to pay off my debt!
2006-11-02 16:42:24 · answer #3 · answered by ron 4 · 0⤊ 0⤋
bad or good credit many banks here .get quick money
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2006-11-02 16:39:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There may be something of use here.
2006-11-03 10:56:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋