If a homeowner gets 100% financing when can he refinance that home? Must the home have additional equity or can he refinance as long as mortgage rates are lower than his current loan?
I currently have a Home Equity Loan which is a 15 yr. loan fixed at 6.09%. This loan was taken out to pay a relative for their share of the home. There is no mortgage. Can I refinance and apply for a first-time mortgage (combining my Home Equity) so I can add on to the home. My current Home Equity is $55,000. I would like to refinance for at least $100,000.
I have been approved for a 400,000 dollar home equity line of credit (kitchen remodel). However, I only need about 100,000 dollars, and I plan to pay that off to zero by the end of the teaser rate (9 months). My question is how is my credit score affected by the amount of credit I have available to use? Will my credit score go up or down by having a zero balance on a $400,000 HELOC vs a zero...
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I have a question - first of all I have been in my home only 6 months, do you think it is a good time to try and refinance? The only reason I was considering it was because I got myself in a really bad bind - my job closed down. It's just been a really hard time, if you know what I mean. So I need to get myself out of debt and I don't know really know how to do that? I have bills tha...
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I have a high debt-to-income ratio. Which mortgage companies are best to work with?
Will taking a sub prime home equity line of credit to consolidate credit card debt help improve the FICO score or hurt it because it is sub prime?
I have a home equity loan taken against my primary home in California to pay in full for my 2nd home in Montana. Now I can't afford payment and may default on the loan. Can a lender make us sell our 2nd home to pay down debt?