If you
are looking to raise some money and your
home is worth a good deal more than the
amount you still have borrowed against
it then you might want to consider a
125% Home Equity Loan. Mortgage finance
is the cheapest borrowing available to
most people, and it makes good sense to
use your property to raise money rather
than taking more expensive loans and
credit from elsewhere. An equity loan
can be the best way for you to take care
of major expenses such as college
tuition or car payments.
The way
a 125% Home Equity Loan works is this.
The lender looks at an appraisal of the
value of your home. That value is the
figure that the lender uses to work out
what he can lend. So if your home
appraisal is $100,000 and the lender
will go up to 125% of the appraised
value, that means the lender is
prepared to lend up to $125,000 on your
home. If, say, you still owe $60,000
from your first mortgage then that is
taken off the total possible loan amount
giving ($125,000-$60,000) which equals
$65000 as the maximum amount you can
raise in the new loan. Lenders will
also want to look at what you earn and
any other loans you have to check how
big an equity loan you can afford to pay
back.
Our Featured 125% Equity Line of Credit Partners:
Full Spectrum Lending helps homeowners - even those
with less-than-perfect credit – access their home’s equity to get cash,
consolidate debts, and lower monthly expenses. We can also help applicants
who are self-employed or have high consumer debt.
In fact, we’re proud to say that 4 out of 5 Full Spectrum Lending
applicants are approved for a loan! We offer competitively priced home loan
programs, including fixed rate, adjustable rate, refinance and home equity
loans.
Let the best lenders battle for your business right now. At GuidetoLenders.com, you’ll get competitive loan quotes from up to four lenders, so you can take advantage of today’s interest rates while they’re still low. Refinance, improve your home, take a vacation or pay for your child’s college education. Consolidate all of your bills into one and cut your debt with a Debt Consolidation loan. No need to worry about your credit—all credit types are OK.
Countrywide Home Loans helps homeowners - even those
with less-than-perfect credit – access their home’s equity to get cash,
consolidate debts, and lower monthly expenses. We can also help applicants
who are self-employed or have high consumer debt.
In fact, we’re proud to say that 4 out of 5 Countrywide Home Loans
applicants are approved for a loan! We offer competitively priced home loan
programs, including fixed rate, adjustable rate, refinance and home equity
loans.
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