my husband and i are applying for one and i'm nervous about the whole thing...
2007-06-05 13:55:48 · 3 answers · asked by LAB03 2 in Business & Finance ➔ Personal Finance
We have a property that is paid off worth about $190,000 that we are borrowing from and i think we have decent credit, my husbands is probably better than mine
2007-06-05 15:38:55 · update #1
I worked at a bank as a Loan Processor and dealt with HELOCs. It all depends on your credit. If you have good credit and quite a bit of equity, you're good to go.
2007-06-05 14:10:16 · answer #1 · answered by Dolce_Vita 3 · 0⤊ 0⤋
It's not that hard. You should shop around for "interest rates" before committing to any lender. The differences in .25 points or more can add significantly to your cost to borrow by thousands over years.
2007-06-05 16:33:42 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋
I have found Home Equity Homes TOO EASY! As long as you have the equity inyour home and your debt ratio as well as credit history are within allowable limits....youv'e got it.
2007-06-05 14:01:31 · answer #3 · answered by wecair2 2 · 0⤊ 0⤋