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In a word, yes. But maybe not at the best rates. I refianced 2 years ago to get some cash to pay off credit cards, do some home improvement, etc. But the rate I got then was 10.3% and it's an ARM. So, I'm now trying to refiance and get a lower rate, but what I'm finding is that since my house was refinaced once before I'm not getting the best rate! Yes you can. It will depend on the time you have had it [ many lenders like you to hold it between 6 and 12 months ]. Then it will depend on your credit score and the loan to value of the equity line. All things being equal you will not have to pay a higher interest rate unless rates have gone up. You may pay a lower rate.
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Is it possible to refinance an existing home equity loan into a home equity line of credit?
YES, ALL YOU NEED TO DO IS GET IN TOUCH WITH YOUR BANK AND TELL THEM THAT YOU NEED AN EQUITY LOAN EVEN THOUGH YOU ALREADY HAVE AN HOME EQUITY LINE OF CREDIT AND THEY WILL WORK WITH YOU BECAUSE ITS UNDER THE 4TH RULE IN BANKING, THEY HAVE TO AND DONT LET THEM TELL YOU DIFFERENTLY!
When you refinance your home do you lose your equity?
No, you should keep the equity in your home
Is it possible to get a home equity loan while paying chapter 13?
No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.
What is the difference between an FHA home equity loan and traditional home equity loan?
An FHA home equity loan differs from a traditional equity loan in that it allows homeowners with bad credit to refinance their mortgage, and can be practical for people wanting to purchase a new home or repair their existing one.
Where can one find online home equity vs refinance discussions?
The Bankrate website has a lot of information regarding home equity versus refinance discussions. Use the search function for "Refinance vs. home equity loans" for a list of results.
Is it possible to refinance an existing home equity loan into a home equity line of credit?
YES, ALL YOU NEED TO DO IS GET IN TOUCH WITH YOUR BANK AND TELL THEM THAT YOU NEED AN EQUITY LOAN EVEN THOUGH YOU ALREADY HAVE AN HOME EQUITY LINE OF CREDIT AND THEY WILL WORK WITH YOU BECAUSE ITS UNDER THE 4TH RULE IN BANKING, THEY HAVE TO AND DONT LET THEM TELL YOU DIFFERENTLY!
When you refinance your home do you lose your equity?
No, you should keep the equity in your home
Can your refinance if you don't have the equity in the house?
It may be possible to refinance your home if you do not have equity. I have done many of these loans. There are currently programs for both Freddie Mac and Fannie Mae that will allow you to refinance even if there is not equity. There are Loan to Value limits, but they are well over 100%.
Is it possible to get a home equity loan while paying chapter 13?
No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.
What is the difference between an FHA home equity loan and traditional home equity loan?
An FHA home equity loan differs from a traditional equity loan in that it allows homeowners with bad credit to refinance their mortgage, and can be practical for people wanting to purchase a new home or repair their existing one.
Where can one find online home equity vs refinance discussions?
The Bankrate website has a lot of information regarding home equity versus refinance discussions. Use the search function for "Refinance vs. home equity loans" for a list of results.
What are the advantages of equity refinance?
Some advantages of using equity to refinance is that one can take a small amount from their equity to pay off other bills or to refinance ones mortgage. One can also use ones home equity to make home improvements.
Where can one find information on a equity home loan mortgage refinance?
When looking to find information about equity home loan refinance mortgages it may be possible to find the ideal mortgage refinance package to suit the required customer needs by visiting such websites as Age Partnership, the Money Supermarket comparison site.
Can you refinance home equity loan without touching the first loan?
That's what a refinance is changing the terms. However, if you have equity, can get a 2d as alternative.
Where can one get refinance or home equity loan?
You can get a refinance or home equity loan from banks such as Chase. Alternatively, you can also get this loan from the Bank of America. You can apply online at their respective websites.
What are the advantages of equity?
Some advantages of using equity to refinance is that one can take a small amount from their equity to pay off other bills or to refinance ones mortgage. One can also use ones home equity to make home improvements.
If you have a second note can you still get an equity line?
Typically not (unless the bank is VERY sloppy on their paperwork). What you can typically do is refinance the second into the home equity line. For example, you qualify for a $50K home equity line of credit (HELOC) but already have a $25K balance on your second mortgage. The bank would refinance the existing second with the HELOC. You would then have $25K remaning available to draw on the line.
