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How To

How to Start a Home Equity Loan

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By Margo Airst
User-Submitted Article
(1 Ratings)
Margo Airst
Margo Airst

How to go about obtaining a home equity loan

Difficulty: Moderate
Instructions
  1. Step 1

    You will need sufficient equity in the home. An appraisal will determine its value.

  2. Step 2

    Your credit must be in good standing. Total indebtedness must meet the lender's qualifying ratios.

  3. Step 3

    You can obtain equity loans with zero or less equity. Loans up to 125% or more of the house's value come with very high interest rates, more stringent fees, and strict qualifying rules.

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on 11/8/2008 Thanks for such a informative article.

Jenette
www.mobileaustinnotary.com
"The Nicest Notaries in Texas, That Go To You 24/7"

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