Tuesday, 31. August 2010
my boyfriend and i have bad credit but we own a ,000 home with no mortgage. the house is paid for. we were looking into getting a home equity loan to pay some back bills off and do home improvements. is there anywhere that we could get a loan even with bad credit?
Sunday, 18. July 2010
Okay I know that without specific numbers no one can really answer this question. But I just want to know how much more a monthly mortgage payment will be if a home equity loan is taken out for home repairs. Here is what I know so far: The house is appraised for 208,000. I dont know what the original down payment was or how much the original mortgage was for but I’m just going to guess 188,000. There have been 60 monthly payments of 1400 per month on I am assuming a 30 year loan. I don’t know what the interest rate was, but they want to take out a home equity loan of 18,000 to 28,000 for home improvements. If anyone can help me figure out approximately how much more the monthly mortgage payments would be that would be great. You can email me if you need any more info that can help.
Saturday, 17. July 2010
I just entered a debt management program to get control over my credit card debt. I have done this seperate from my husband. Only my credit is affected. Just after I entered into the program, my husband started showing interest in a home equity loan to consolidate our debt (his credit card and vehicles) and do home improvements. In our marriage I am responsible for my own debts, but I am wondering if being in the DMP will affect the chances of us obtaining the Home eq. Loan. Serious educated replies will be very much appreciated.
Thursday, 1. July 2010
10000$ to consolidate 7000 in debt, the going interest rate is 7.5 % we are currently paying between 13%-23% on the cards
the remaining three thousand will go torward minor home improvements & maintanenece (new paint, gardening supplies etc) We are currently living on one income, i will return to work when my toddler goes to school in 2 yrs. My minimum payments on three cards all tolled is 250$ per month while the home equity loan is 65$ per month & that is principle & interest
my fico score (experian) is 704. I dont know my median score, as i get a free credit analysis with my WAMU visa but i get experian only…
Monday, 21. June 2010
I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity loan. I’m not interested in HELOC’s.
Wednesday, 16. June 2010
My grandparents are giving us their 2nd residence home. No money owed on it, title will be ours next week. Here’s my question: we want to pay off some debt & do home improvements, but I am concerned about the seasoning clause. What banks/lenders offer home equity loans without a seasoning clause? Since there is no purchase amount, will they go by the appraised value in this case? Thanks in advance.
Tuesday, 11. May 2010
Currently my FICO is 630, I have history of a bankruptcy 6 years ago, I make 80k a year, my only current debt is a 6k auto loan, oh and those dreaded 21k in student loans. I’m in California and 4 years ago I really wanted to purchase a home before the prices got to out of control but no bank would touch me despite a good career and down payment so my parents who had their home paid off got the loan for me and I’ve been paying the mortgage. Now 4 years later I’m ready to be an adult and do the right thing and get my home loan in my name even if it means a higher interest rate then the current 4.5%. With the equity I’ve established (my home is worth 380k and I owe 180k but thinking about borrowing 200k to pay the auto loan and do some home improvements) is it possible for me to get a decent interest rate with my train wreak credit history? Any insight would be appreciated, Kelly
Wednesday, 5. May 2010
I need money for home improvements, and I also want to get my mortgage payment lower.
I bought this home in march 07, and I have made minor improvements, but the house needs improvements.
If there are any real estate pros out there with some good practical advice please expound on this topic.
Also, I have paid off some credit card debt since I bought the house, so I think my credit rating is better.