Are there home equity loans based strictly on the home's equity and not factors like credit reports, etc?
472509
All loans are based on Credit, Capacity to repay, and the collateral. Even a reverse mortgage the was mentioned in a previous answer. Home equity lines are adjustable to an index that the lender uses. Usually it is the prime rate. The higher your scores the closer you get to prime. You can also get a fixed rate on a second deed of trust in the conforming market. If you have credit problems the you will end up in the sub-prime market with higher rates. These loans will usually be a closed in loan with a fixed rate. Be careful as many of these are Balloon notes and have Call Provisions. When they call the note you have to pay the outstanding balance at that time.  You still have to qualify for the loan in any case.Hope this helps you out!\nGood Luck.
482935
There are plenty of companies that offer 100, 103 and 107% loan options.  Lending Tree.com would be a start.
985612
It is fairly common to get a home improvement or home equity loan to cover it.  But please think about having a pool seriously.  I had a pool and came to regret it after a few years. It was a pain to keep clean.  We had to keep purchasing chemicals - our pool cleaner broke a few times - the water would be too cold and my kids wouldn't want to swim in it (couldn't afford to heat it for the few times they did swim) - a neighbor's dog found a way to tunnel under the fence and then fell into the pool (we were there and quickly rescued it).  When we went to sell the house it made our home more difficult to sell - most buyers didn't want a pool. If I had it to do again I'd purchase another hot tub, but not a pool.
206041
I don't think such a financial vehicle exists.  If she only owns half the house, somehow she has to "pay" for the half she doesn't own.  She could pay that in the form of rent to you or someone else, or in the form of a mortgage.  If she could get a reverse mortgage, she would pay for it in the form of losing equity in the house.  But in someway she has to "pay" for it.  \n\nIf she is not willing pay any money at all, the best thing is to sell the house, and she can move into a smaller house.  She can't afford the current house.  If she won't sell, you shouldn't move out.
638203
Yes in one sense but in reality no!\nIt will increase the pride and knowledge of knowing you owe less, can keep more if your sell, should understand your investment more, regarding what areas if you refinance the home in terms of how to invest the diff, invest wise and spend wise, you have more to gain with equity than without any!
532528
I'm not exactly sure what you mean here, but I don't think it's entirely accurate.\n\nA Home Equity Line of Credit(HELOC) is based upon the prime rate(an index) which in turn is based upon the over night Fed Funds rate.  The Fed Funds rate adjusts monthly according to the Federal Reserve's meetings (Greenspan in the past).\n\nHELOC's as 2nd mortgages are higher than some 2nd mortgage loans right now because the index that derives their rate(Fed Funds & Prime) is higher than several fixed 2nd mortgage indicies.\n\nTypically, the payment for HELOC's is interest only.  To see what your payment is here's a link to a mortgage calulatore on my real estate site: http://www.nnnstore.com/mortgagecalculator.php\n\nThe typical loan term is 30 years.  To find out what your interest only payment is put in a loan term of 2400 years.\n\nFor years though, HELOC's were even less than first mortgages with interest rates as low in the 4's.\n\n2nd mortgages tend to be at a higher interest rate than 1st mortgages, typically.  The reason is because in the event of foreclosure there is an order for paying off liens, known as position.  1st mortgages would be paid off fully first because they are in a higher position than a second mortgage.
1025127
A home equity loan or home equity line of credit is really your best bet.  Interest payments can usually be used as a tax write-off.  Check with RegionalMortgages.com
940371
You should be able to technically do this as long as the new home equity loan + the 1st mortgage are not more than 85% of the home's total value.  This is generally the cap.\n\nSo if you have a home that's worth $200,000: 85% of that is 170,000.  As long as the new home equity loan and the mortgage balance added together are less than that amount, you should be OK.
49506
Loans not written for the intent to fund business.  I.E.  House loans, Car Loans, Personal Loans (any purpose), debt consolidation loans, etc.
498933
If you have other debt, take a home equity loan, and pay off the other debt.  Payments on non-home loans are not tax deductible ... payments on home loans are tax deductible.  Also, the interest rate on a home equity loans probably would be lower than credit card debt, or a car loan.\n\nDepending upon what your tax bracket is, you may want to try to earn income in the form of dividends (not interest payments) ... dividend payments are taxed at a lower rate than regular interest.\n\nFinally, also dependent on what your tax bracket is, maybe you should invest in muni-bond fund, which pays income tax-free investment revenue.  The interest rates are lower than taxable bonds, but if you are in one of the higher tax brackets, your net after tax will be larger.
136483
If the home improvement is one that will up the value of the home considerably (redo kitchen, finish basement) use a home equity loan, just make sure you don't over exert yourself financially.\nFor minor home improvements (paint, moulding) save up to do the repairs or do them in small steps.\nThe best way to finance home improvement is to not finance them but to pay for them up front.  This isn't always an option so go over yours carefully and if you use your house as collateral be sure to justify the extra costs (construction costs and insurance costs).
967964
The title company should have the paperwork...when you go to get the equity loan from the mortgage company, they should order title work and they handle all of it.
737763
Try Lending Tree I understand they have various  banks to choose from to make loans for all types of credit.
132693
Yes, you can.  Some lenders will actually lend up to 125% of the value of your home in first or second mortgages.  Keep in mind that the interest rates on these types of loans will likely be much higher than standard equity loans because of the increased risk to the lenders.  Generally, these lenders are not banks but finance companies.  Personally, I would wait until your house appreciates in value and/or you pay down your first mortgage OR get a non-equitized line of credit through your bank or credit card company.  MBNA and Capital One have accounts like these at reasonable rates.
314926
I got an equity line of credit through my current lender and there were no closing costs or appraisals.  It was fast and free, basically.  I have a $49,000 line of credit and just use it like a checkbook if I need it.
956942
Once you apply for the loan the application process could take anywhere from a day to three weeks...depending on several factors like your credit score, debt to income ratio and other leans on the home...\n\nAfter you sign the loan docs for the equity it will then take another few days for the money to be funded to you.  It's somewhat of a long process...and definitely not the quickest way to get a loan. What I'd recommend is getting a small personal loan first to pay off any initial debt due now...and once you get the equity you can pay off that small personal loan....
579597
You can almost always get a home loan, no matter how low your score is.  The lower the score, however, the more expensive the loan will tend to be.\n\nHope this helps!