The changes on FHA loans and how they will affect borrowers and sellers

The changes on FHA loans and how they will affect borrowers and sellers Seller concessions What are they? Contributions that sellers kick in to help defray a buyer’s costs. They can include closing costs, inspections, appraisals and free upgrades. What’s changing? The FHA proposes slashing allowable seller concessions in half, capping them at 3 percent [...]

Do you need good credit to take out a home equity loan? Will bad credit affect chances of being considered?

My credit is poor but I have probably $80k in equity in my home. Will a bank refuse to approve a home equity loan because of bad credit?

“Fed Cuts Key Interest Rate” Why does this not affect my variable rate home equity mortgage?

How does doing a cashout refi or home equity loan affect AMT risk?

We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest…does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in the 1040 [...]

Should you use a Home Equity Line of Credit to consolidate credit card debit? How does it affect the home?

Over 10K of credit Card debt, all with high interest rates, think it would be better to use Home Equity to consolidate or “payoff” cards to have one low rate and payment.

if i take out a home equity loan now will this loan affect me if i want to refinance my mortgage.?

I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i [...]

If I increase the amount of a home equity credit line but never use it, does it still affect my credit rating?

Line of credit currently at $60,000, but want to increase to $150,000 just in case I ever need it. If I never really use it, does it still affect my credit rating?

How Do Credit Ratings Affect a Home Equity Loan Rate?

Bad credit ratings always have some sort of bad impression on lenders when applying for a loan. Naturally, your best interest is to obtain Prime rates, but due to bad credit ratings your mission is almost impossible. You may still find lenders in the sub prime market that will offer you decent rates, if you [...]