About Home Equity Loan Rates

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Loan rates in the the world of home equity are very different from financial institution to financial institution. Discover how a good credit score can improve a home equity loan rate with help from a registered financial consultant in this free video on money management and personal finance.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser, Patrick Munro, talking about home equity loan rates. Loan rates in the world of home equity are very very different from financial institution to financial institution. One of the best things as a consumer that you can be armed with when you go shopping for the best loan rate on a home equity loan is a good credit score. Make sure that you keep your credit score to a point where a lender is going to want to do business with you and of course make sure that your property has enough value in it that the lender will feel comfortable giving you the amount of money that you require. When you have those two factors in play you will get the best home equity loan rate available but it is important to shop around because these institutions have varying rates and terms that are available. The best way to get the best home equity loan rate is go on line and look up bankrate.com. Bankrate.com will tell you a wide range of home equity loan rates relative to your needs. Remember having a great credit score and a low relative value of expenditure against your home is your best way to get a low home equity loan rate. This is Patrick Munro, financial adviser talking about home equity loan rates.

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