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No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.
No. You are not required to reside at the home that you draw your equity from but you must own it, which means you must be on the title.
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.
No, if your name is on the home you are 1/2 the legal owner of the property. You are then responsible for 1/2 of the loan. If your roommate can qualify for the loan on her own you would have to reliquish your rights to the property to remove you from the ownership of the property
No, you cannot "Transfer" the loan. But you can take out a loan on the other property and use it to pay off the first.
No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.
yes
It usually means that someone will not return property that they dont own.
yes and no...it depends on the type of home the resident is placed in..
Yes. It is an asset. An asset includes personnel property you own.
No. You are not required to reside at the home that you draw your equity from but you must own it, which means you must be on the title.
Rented home or your own property that is a question in context.If you have broken a rented apartment you have to take care that it is rebuild again.If your own property the decision remains with you.
Yes, a person can own a driveway and restrict access to their home. Property owners have the right to control access to their private property, including driveways.
Yes you can mortgage the property but the home likely wont add much if any value to it.
Whenever you own a home. * Homeowner's insurance is mandatory while the property is being financed, and always the best option when property is owned outright.
If a person builds a home on land that they don't own, the home will become the property of the person who owns the land.
In any existing mobile home park. - On your private property if for your own use (in my area)