Online Home Equity Loan

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An Online Home Equity Loan Could be For You

There are so many alternatives when you are thinking about obtaining a loan using the equity you’ve got in your home. One of the least difficult and most straightforward is actually searching the Internet with an online home fairness loan. There is certainly no shortage of sites to investigate and you will have your call answered on most of these sites within days whether or not you were authorized for your online residence equity loan. The goal of these web based loan websites is to get you money, in your hands or your, in less than two weeks.

The done like this you pick the loan website you believe offers you the best conditions. Then you fill out their online applications as well as submit them. Then youll get a phone call from one of these consultants to confirm the information that you have sent them. At the same time theyll tell you what they really want to prove the information that you have sent. The internet home equity loan process is merely the beginning. Once the application form is confirmed you will end up asked to print that, sign it as well as send it, through fax if you can, or perhaps by mail if that is your only option. The documentation that will be necessary to accompany your loan application will be proof of income, likely your own last years taxes, and proof of your present mortgage payments. There may be other activities required depending on which company you deal with.

When everything is satisfactory you will hear again from their consultant to set up a scheduled appointment to sign the online home equity loan papers. Once this is done they give it off for a last authorization and with any luck you have an individual money in a matter of days.

Other services claim that they will give you an answer, using only the online application, and that you will know in less than 30 minutes if you are going to get your own money. They will then react to you with alternatives on the kind of loan they are supplying, competitive interest rates as well as repayment programs. You choose the package you prefer and they will set the loan process in motion. But like the others they are going to still need to see proof your income and many want to evaluate your home.

Dont end up being tricked by an online home equity loan organization that promises you the money the same day. They all have a process that they need to follow.

Comments: 21

  1. Cheree March 25, 2013 at 3:31 am Reply


  2. Oswaldo April 11, 2013 at 1:26 am Reply

    My husband and i bought a house one year ago. I was on maternity leave so they could not put me on the loan, but i am on the title. my husband will be out of the country for a long time, i wanted to know is there any way for me to get a home equity loan just on my name?

  3. Clorinda June 21, 2013 at 5:20 pm Reply

    I have a great idea for a small simple restaurant but I have terrible credit. What are some ways that I can get something going? I’ve been in the restaurant business for years, so I don’t need a lecture about going negative for the first five years and how hard it will be and how I will be broke at the end of it all. As respectfully as I can plead, please answer the question directly and save your warnings about the cruel world of business. Thank you in advance for your time and consideration.

  4. Irwin July 24, 2013 at 6:06 pm Reply

    My home is in Littleton, CO — a standard 3 br 2 bath jobbie in the burbs. I keep hearing about a pending real estate (and then maybe economy) crash. How likely is this? If there is such a crash, does that simply mean my home would be 1/2 its value? If no crash, I expect interest rates will go up and therefore bring home prices down. How much of a change are we talking?

    I realize nobody knows this for sure, but are there any experts or people with experience out there who have an opinion backed up with some facts/stats?
    It’s too bad we can’t turn this into a forum, it’d be nice to be able to have conversation with you all regarding your answers and experiences.

    I think I should have been more specific. We’re thinking of selling our home and renting because of the potential crash. We love the house, but have put a lot of money into it (the mortgage) and don’t want to lose the equity because of some factors beyond our control.

    So I guess I should have asked, should i stay or should i go?

  5. Clorinda August 9, 2013 at 11:55 pm Reply

    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.

  6. Tasia September 2, 2013 at 9:05 am Reply

    My husband is a veteran and full-time student at a major university. He doesn’t have the time to work, so I have to pick up the slack. I’m a stay-at-home mom and want to keep it that way, so I’m trying to start and online business, I have pretty much everything in place (suppliers, domain, ein, etc…) but I need funding. Instead of a list of places with grants listed in them, does anyone have a link to a specific grant that I qualify for or a loan that doesn’ have to be paid back right away (like maybe delayed a few years with subsidized interest). I’m in Texas. Please send specific grants or loan because I already know the different sites to search, I’ve just had no luck finding one I’d qualify for, maybe I’m just missing it.

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  7. Nikia September 16, 2013 at 1:43 pm Reply

    I am wanting to start a home business and was wondering if I can get help from yahoo. I am wanting to do gift baskets, invatons, picture taking and calenders. I need start up things like a new pc a new camera and sart up stuff. Can anyone help me?

  8. Rick September 17, 2013 at 3:54 pm Reply

    Bought my house about 7 months ago on a 100% financed mortgage with an unbelievably low interest rate, so I want to avoid refinancing. I don’t think i can do a home equity loan because I have little to no equity since i did the 100% finance. Any ideas? I need about 10000 – 15000 for new siding work.

  9. Chae December 25, 2013 at 4:50 am Reply

    What financial institutions operating in California will offer me a secure personal loan if I put up my BMW motorcycle as collateral? Looking online I only seem to find financial institutions that allow people to offer their homes or home equity or cars as collateral. I’m in California and I am currently unemployed.

  10. Scarlett January 30, 2014 at 5:58 pm Reply

    i have a home with about 200,000 of home equity in it.

    i want to draw on that to make some improvements etc.

  11. Idalia February 2, 2014 at 10:14 am Reply

    ok so we might try to get a home equity loan… but the house is in my uncles name he is a pain in the ass to get ANYTHING from like this is near impossible to get from him we are thinking… we live here my grandfather pays the mortage so could he get the loan sense he pays it? or ONLY the person the houses name is under? or how does it work… we only want about 3000$ -5000$ at most. we live in new hampshire me and my mom and my brother live in the house… my grandfather lives in his own house it was a 2nd mortgage long story.

    we have lived here for 12 years now… also how much would the monthly payments be?

  12. Emely February 2, 2014 at 10:57 am Reply

    We want to relocate to my home town to better off my children this would give them a better school district and we would be alot closer to my family, just how do we go about doing this? We have a mortgage on the house we live in now and a home equity loan also, so we need to sell this one and get another home and a new mortgage on a new one. What are the steps to take to do all of this? Please help!!!

  13. Darwin February 22, 2014 at 5:22 am Reply

    Thinkin of getting a small home loan…wondering what my options are?

  14. Virgie February 22, 2014 at 6:40 am Reply

    I have no experience in this but is extremely important for me to figure it out. Does taking out some of your equity on your loan automatically raise your mortgage payment or does it just push back the repayment period. I need to know how the process works for example. If I have 100K in equity and I want to take out 25k how will that work. Ive been looking online but really cant find anything concrete all I find is sites selling different products. Please only serious Answers. Thank you in advance for your advice.

  15. Calvin February 26, 2014 at 12:39 pm Reply

    I am wandering about purchasing a home which the apprasial is $110,000 but I can buy it for $60,000. I am wandering if I can borrow the 60K and and then get a home equity loan for 25K for improvements to the property?

  16. Enda March 7, 2014 at 5:15 pm Reply

    As a homeowner, you need to take out a home equity loan for home repairs. You wish to borrow $10,000 to complete all needed repairs.

    Research online and find a loan agency that you will borrow from and give the interest rate. Be sure to reference the loan site.
    Explain how much it will cost in interest to pay the loan off in 5 years if compounded monthly.
    Then explain the difference in paying the loan off at the end of 5 years if simple interest is used.

  17. Constance March 15, 2014 at 12:41 am Reply

    Here is what I’m interested in doing … have an eye on a great condo, list prices were around $130k a few years ago, but they are just building and did it right during a down turn in real estate in the area. As a result they dropped the asking price to about $115k. We got a good walk thru with a realitor and she said cash is king here and if they have a cash buyer she knows they’ll likely settle in around $100k just to move the first few units (they build them by the entrance and that was a bad choice!)

    So … my credit isn’t going to help with a conventional loan since it can’t be an FHA loan since the project is only about 15% complete and apparently they must do conventional loans for until the project is further along (that’s what the told us, so it was limited to 1 bank) …

    Now to the point, I have a relative who may have around that amount in liquid finances. Can they “lend” me the money to purchase the condo and in turn I would then take out an equity loan to repay them? It should appraise at well over $100k and all I would need to to is pay them back to be free and clear. I’m guessing we could even wait a little while to pay them back (build credit up higher?) but I’d like to do that sooner than later.

    What are my limitations? Is credit going to bite me on an equity loan if I own outright? Any resources, tips, info would be appreciated!

  18. Ingrid April 22, 2014 at 1:25 am Reply

    I need to pay off some debt and I was approved for a home equity loan and now there are lawyers involved because it’s like a second mortage I just feel alittle uneasy about it.

  19. Sharolyn April 22, 2014 at 12:25 pm Reply

    So, I am a college student and each month my parents transfer me money in order to pay rent, ect. Well, my dad tends to take longer than life to transfer the money. So my mom gave me the account number and password. I always assumed when he transferred me money, he transferred it from the “Home Equity Line,” so that is what I have been doing… until I looked it up online and it said that is the money when you put your house up for the bank. Is this like really bad that I have been transferring money from this account? Or is it not really a big deal since its not a TON of money….
    Any help would be appreciated. thank you!

  20. Willie April 30, 2014 at 5:03 pm Reply

    My husband and I want to work on a few things w/house(kitchen and new floors) but we don’t know which is better refinancing or a home equity loan. I’ve read online refinancing is great! But now I’m starting to see it’s bad. I’ve never seen much on home equity loans. I know the difference but in the long run I don’t know which is better and more efficient, like if you ever want to sell your house. I know our house is worth more than we purchased it for, we were told that by the bank when we purchased it. Just unsure.

  21. Demetrius June 20, 2014 at 7:04 pm Reply

    I am looking for data on the average annual interest rate of Home Equity Loans. From 1970-current would be ideal.

    Do you know where I can find this data.

    Thank you.

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