Home Equity Loans - Online Home Equity Loan - Line of Credit



 

 

Frequent Asked Questions

Below you will find the answers to some of the most commonly asked questions about our servcies and home equity loans. If you do not find the answer to your specific question please contact us.

1) Do the lenders affiliated with you provide loans for new purchases as well as home equity loans and refinance? Yes, they do provide full-service home loan products including purchase, home equity, refinance, debt consolidation, and home improvement loans.

2) Who gets my application once I submit it online? The information you submit on the online home equity loan application, goes directly to a lender. The lender should then contact you to discuss the loan process. It is important that your contact information be correct.

3) What are the interest rates on home equity loans? It depends on the type of loan that you are needing. A term loan is normally paid back with a fixed interest rate. Interest rates for a home equity line of credit are variable. If you are trying to find out the rate for your state there are many websites that compute this for you.

4) Do I need good credit to apply for a home equity loan? Of course good credit is certainly desireable, however, our loan officers are experienced in helping customers with all credit. They have many programs designed especially for people with bad credit.

5) Can I deduct interest on a home equity loan from my taxes? Most likely, yes. You will need to double check the current laws on home loan interest deductions.

6) When I get a home equity line of credit how is the loan paid out? Just like any other line of credit. You borrow the money (up to a certain amount) as you need it. This type of loan is designed to be very flexible.

7) Can I refinance my home and get cash back?
Yes, this is actually a very smart way to save money and get the cash you need at the same time. This type of loan is called a "refinance - cash-out loan". The cash you get back can be used for a variety of purposes.

8) Is there a charge for applying online? No, we will never charge you to apply for home loans, home equity loans, lines of credit, or any other type of home loan product.

9) Do you have lenders in all 50 states? Yes.

10) How long does this whole process take? Each loan is tailored to your specific needs, the amount of the loan your are requesting, and several other factors. It is hard to give a specific time because it is so individualized. After visiting with you, your loan officer can give you a better idea of the time needed to complete the transaction.

 

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