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Can you deposit a large sum of money into a home equity line of credit?
Wiki User
∙ 13y ago
Yes, deposit as much as you want, but in the current market, I advise you to keep it modest.
Wiki User
∙ 13y ago
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Is share money deposit a part of equity?
A share money deposit is a part of equity. These are considered equity shares, and are long-term profit-invested deposits geared toward to stockholders of a company.
Is obtaining either a home equity loan or a home equity line of credit based on your credit score?
I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.
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.
Does a home equity line of credit need to be FDIC insured?
FDIC insurance covers bank deposits, not home loans. If you pull money from a credit line and deposit it with a bank, those deposited funds may be FDIC insured.
What is share money deposit?
Profit reinvested i the company by its share holders is called share deposit money
Is share money deposit a part of equity?
A share money deposit is a part of equity. These are considered equity shares, and are long-term profit-invested deposits geared toward to stockholders of a company.
Is obtaining either a home equity loan or a home equity line of credit based on your credit score?
I cannot think of any time when borrowing money that credit is not a considerable factor. So, yes, your credit score is a factor when borrowing money for either a home equity loan or a home equity line of credit.
When you deposit money to 1 account is it a debit or a credit?
it is a credit. Depositing money into an account is putting money in.
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.
What is share money?
Share deposit money refers to checks that can be paid on demands. Letters of credit can also be deposit money.
Does a home equity line of credit need to be FDIC insured?
FDIC insurance covers bank deposits, not home loans. If you pull money from a credit line and deposit it with a bank, those deposited funds may be FDIC insured.
Is a deposit a debit or a credit?
A bank deposit slip is used for credit. Credit is an action in which money is deposited into a bank account. For doing so, we need to fill a deposit slip. The deposit slip contains details like the name of the account holder, amount of money deposited, the denominations, date of deposit etc.
What is share money deposit?
Profit reinvested i the company by its share holders is called share deposit money
What exactly is scotiabank line of credit?
Scotia Bank is large international bank, and a line of credit is an agreement with this bank that they will loan you money when you ask for it. The loan is based upon equity that you have such as your house.
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 a secured credit card?
a credit card that is secured by a deposit of your own money
Is a bank deposit slip a credit or debit?
A bank deposit slip is used for credit. Credit is an action in which money is deposited into a bank account. For doing so, we need to fill a deposit slip. The deposit slip contains details like the name of the account holder, amount of money deposited, the denominations, date of deposit etc.
