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Are there any equity lines of credit available on cooperative housing units?
Wiki User
∙ 17y ago
Some lenders do this but I am not sure who. I would consult with a knowledgable broker in your area. SOmeone who has been around a while.
Wiki User
∙ 17y ago
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What credit options are available from Pioneer Credit?
Pioneer Credit Union offers auto loans, mortgage loans, home equity loans, home equity lines of credit, student loans, personal loans and business loans.
How does one get rid of a bad line of credit using home equity?
A home equity line of credit is kind of like borrowing from a credit card company only instead it is borrowing from the available equity from your home. Home equity helps consolidate higher-interest rate debt on other loans.
Can you get a home equity loan or line of credit on a cooperative apartment?
Yes, you can obtain a home equity loan or line of credit through the Bank of New York. They also offer mortgage loans on cooperatives.Yes, you can obtain a home equity loan or a line of credit on co-ops through the Bank of NY.It's true that Bank of New York offers home equity loans or lines of credit on a coop at a very competitive rate. But if you want an alternative, Chase does it as well.
Does a home equity line of credit count against your equity when refinancing?
Yes, if you have used any of the credit available to you. For example, if you have used $10,000 of a $20,000 line of credit then you have to add that $10K to the balance of the total owed on the property.
What happens when paying off an equity line of credit?
Nothing happens when you pay of an equity line of credit. The equity that you used for your line of credit is now safe.
Why equity account have a credit balance?
Because equity is an income - therefore it is a credit, not a debit.
What is equity line of credit?
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
Why would someone need an equity line of credit?
Equity line of credit is typically used in reference to a home loan. The amount of money paid into your home is your equity. With a home equity line of credit, it acts like a credit card. One may need it if they can not qualify for a credit card, or a higher credit limit on their cards.
What is the definition of a home equity line of credit?
A home equity loan is a loan that homeowners can get based on the equity that they have in their homes. This amount is based on the value of the house and how much they have left to pay on the home loan.
Home Equity Lines of Credit?
In addition to home equity loans, it is now possible to obtain home equity lines of credit that allow you to borrow only the amount you need at any given time, even though you have access to an amount similar to that of a home equity loan. A home equity line of credit is similar to a credit card in terms of how it is used, except that the credit limit is backed by and based upon the equity value of your home. It is even possible to apply for a home equity line of credit from online lenders.
What is the home equity loan and line of credit?
The home equity loan is a way to release the equity of your home in order to borrow money. A line of credit is a phrase used for a method of obtaining credit.
Where can one find an equity loan for bad credit?
One can find an equity loan for bad credit in a wide variety of places. An equity loan for bad credit can be attained at a local bank or visiting sites such as Alpine Credit.
