closing costs on home equity loan??
814482
My bank charges $300 to open a home equity line of credit. They will waive the fee if I keep the line of credit open for two years (don't have to tap the line of credit, i just have to keep the account open for two years.).
977405
It seems like you have equity in your own home. If that is the case, then use hard money lenders to finance 65% of your deals and use a HELOC on your home to finance the other 35%.\n\nRegards
386870
From my understanding of Texas rules... Once you have obtained a Texas Home Equity Loan on your primary residence you are forever in a Texas Home Equity Loan. You can only cashout up to 80% of the value of your primary residence in Texas no matter the value and the most a mortgage company can charge is 3% of the loan amount for all fees including origination, processing, appraisal etc..
986772
if you own the house, a home equity loan would be in your favor.. i don't think you can use the house 4 collateral, if you don't own it.. but i could be wrong..
252799
Not that I know of, most HUD and VA loans are for the full Purchase Price of the Home. Now, what you may try, talk to a Bank Loan Originator and see if you maybe able to Refinance the Home through HUD adding on the Additional Equity you are wanting, in the Form of Energy upgrade improvements! Does not cost anything to Ask. Many Banks may offer you a deal too just to get your Business. Basically all HUD and VA loans do is get a person into the House for less upfront money, they really not have a Special Interest Rate as most Banks offer good rates because of the Competition. Also, I would say the now you want a Fixed Rate Mortgage, a Variable rate can move up and down with the Prime Rate and right now about the only direction the Prime may move would be up.
102032
You need to have excellent credit for those kinds of loans. I suggest you shop around several banks, and lendingtree.com\nYou may qualify for a low downpayment not as high as it would be normally. Just shop around and make sure you have a couple thousand saved up for closing cost and a downpayment.
365773
You can call any escrow company up and ask what the fees are for a loan amount. Also, if its a refi or a purchase.
53320
If the appraised value of your home has risen and depending on the terms of your 80/20 you could possibly refi.  Go back to your Lender (if you were satisfied) and see what they can do to help you.  You will still have to pay closing cost again or you do in most cases.  And be sure you have paid all your payments on time.  Maybe this will help you.
155397
There is no standard answer, as rates change daily. It depends on how aggresive the bank wants to be, and the loan officer.  When comparing rates, you should do so on the same day. The 2 important questions you need to ask is the rate on that specific day, and the amount of ALL closing costs. A lot of lenders (particularly brokers and on-line mortgage companies) only include THEIR closing costs, and not outside 3rd party costs such as attorney fees, title insurance, recording fees, appraisals. etc.
360376
It really depends on the overall picture. The blended rate on 2 loans could be close to the one loan option, but with the 1 loan option you will probably pay Mortgage Insurance.\n\nThe rates on the 20% 2nd loans have really gone through the roof, so the 1 loan options are starting to look better again.\n\nAs far as closing costs, it really depends on the type of loan and the lender you are using.  The Bank that I work at charges very little on fees and we have no junk fees that I see other lenders use.  But being that their are 2 loans there are more costs than just one loan.\n\nYou should have your lender go over the difference in total monthly payments and difference in closing costs for the 2 options and see which one looks better.\n\nWith 2 loans, chances are you will want to refi or combine the 2 together within a few years if you have built up equity.  With one loan, if you are paying Mortgage Insurance, after 2 years if your value has increased, you may be able to eliminate the Mortgage Insurance and your payment goes down.  Not the case with 2 loans.\n\nS, look at the overall payments and costs and ask yourself if you plan on being in the same house or same mortgages for more than 2 years.
404192
***********************************************************\nHopefully you currently own your home now. You can use the equity in your current home as a downpayment on a 2nd home. Use the 1st as a rental. This may mean refinancing your 1st home or getting a 2nd mortgage on it.\n\nI suggest you take your first $15 bucks you can spare, go out and buy the book "The Automatic Millionaire Homeowner" by David Bach. This book alone is more than enough to get you started, even if you don't think you can. You can also check out his website at www.finishrich.com/homeowner\n\nAnd by the way, don't let others tell you it can't be done or they know someone who tried, etc. They have good intentions. They are trying to protect you from disappointment (a feeling they've experienced). So thank them for being caring enough with thier warnings. But explain that what you can really use is thier encouragement and support and that any advice they have that might help you in your efforts would be much appreciated.\n\nDon't give up. And congratulations on your thinking big.\n\nHope this helps. Good luck.\n\n***********************************************************
643649
I'd be careful with how much the seller is willing to pay.  Lenders have a limit to how much the seller can contribute towards your closing costs, usually either 3% or 6% of your purchase price depending on the type of loan you get.
586914
Most people are taking interest only loans.   This is not a problem if you plan on staying in your home forever, and don't mind the fact that you are never building up equity.  However, if you plan to sell in the future, this could be a big problem if the market crashes because you will owe more than your house is worth. Be careful!
38075
Probably not.\nMost HELOC's come with a $500 cancellation fee if the loan is closed (sold, refinanced, etc) in the first 3 years.\n\nEven if they refinance you at no cost to you, you will have lost whatever principal balance you've paid down in the interim.\n\nBasically, you would have to save enough money during those 3 promotional rate months to offset all your costs.  (And if you have that $500 cancellation fee, that won't be too easy)
1019427
There are possible loan origination fees and or mortgage broker fees (these are usually built into the loan).  Closing cost fees to either the closing agency or the attorney you use for title search.  Unless you are going 100% financing you will need to bring a down payment on the house.  And all taxes will be prorated, if the previous owner has paid up all the taxes on the property for the year, you will pay the owner the portion of the tax year that you will take over.  There may be more depening on the agency you use.
418462
several things could be happening here\n\nyour lender could be including private mortage insurance if you don't have 20% down and the lender requires it\n\nalso, the lender may be including fees and closing costs into the loan, which could run into thousands of dollars\n\nbe very wary of any loan where all costs are not disclosed to you in a truth-in lending statement, and if a lender or broker makes promises to you or tells you to disregard any truth-in -lending statement you do get
493147
once the paper work is started I don't think so\n\nAlso depends on amount of equity credit score alot of variables\n\nof course timing is important also it takes a while for that info to get out If your loan closes first hey your in there\n\nDo you have any other equity\n \nAlot to this