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Yes, you can obtain a mortgage loan on a home you already own through a process called refinancing or by taking out a home equity loan or line of credit. Refinancing involves replacing your existing mortgage with a new loan, often to secure better terms or lower interest rates. Alternatively, a home equity loan allows you to borrow against the equity you've built in your home, providing you with cash while keeping your original mortgage intact.
What else can I help you with?
Can you get a home equity line of credit to buy a home?
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.
Can you get a first-time homebuyer credit on your home equity loan?
A home equity loan is something people take out when they have already purchased a home and already have a mortgage. It is a loan against the equity you have in your home. Therefore, since you already own your home you would not qualify for present first time home buyer programs.
Can you get a mortgage loan if you already own a home and want to sell and get another home but you have a lot of bank overdrafts but paid them?
Yes, that should not be a problem.
What is an equity home mortgage?
An equity home mortgage is a type of loan which the buyer uses the equity of the home as a collateral. This type of loan is very risky because one's own home is in danger.
What is the difference between a mortgage and a home equity loan?
Well, darling, a mortgage is a loan you take out to buy a home, while a home equity loan is a loan you take out using the equity you've built in your home as collateral. In simpler terms, one helps you buy the house, and the other lets you borrow against the house you already own. Hope that clears things up for you, sugar.
Can you get a home equity line of credit to buy a home?
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.
Can you get a first-time homebuyer credit on your home equity loan?
A home equity loan is something people take out when they have already purchased a home and already have a mortgage. It is a loan against the equity you have in your home. Therefore, since you already own your home you would not qualify for present first time home buyer programs.
Can you get a mortgage loan if you already own a home and want to sell and get another home but you have a lot of bank overdrafts but paid them?
Yes, that should not be a problem.
Can you use your home to obtain a loan from a bank?
Yes. You can only get a mortgage if you own the home.Yes. You can only get a mortgage if you own the home.Yes. You can only get a mortgage if you own the home.Yes. You can only get a mortgage if you own the home.
What is an equity home mortgage?
An equity home mortgage is a type of loan which the buyer uses the equity of the home as a collateral. This type of loan is very risky because one's own home is in danger.
What is the difference between a mortgage and a home equity loan?
Well, darling, a mortgage is a loan you take out to buy a home, while a home equity loan is a loan you take out using the equity you've built in your home as collateral. In simpler terms, one helps you buy the house, and the other lets you borrow against the house you already own. Hope that clears things up for you, sugar.
How could one pay a home mortgage online?
You can pay a Home Mortgage online. If your loan is with Wells Fargo, Chase Bank, Bank of America or US Bank you can go to their website and pay your Mortgage loan there. However if your Loan is with a Mortgage Company such as Plaza Home Mortgage you will have to go through your own Bank's Bill pay system to pay your loan online.
Is mortgage better than a loan?
A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.
What is reverse mortgage and how can you get it?
Reverse mortgage is a loan given to homeowners aged 62 years and above to help them convert part of the equity in their home into cash and you can get it only if you own a home.
Can you sell a mobile home before it goes to foreclosure and do you have to give that money to the mortgage co?
Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.Of course you have to give the money to the mortgage company. You own the mobile home subject to the loan you got to pay for it. An intelligent buyer will make certain the loan is paid or they will take possession of the property subject to your lien.
Where can I find mortgage loan training?
Loan Officer School offers such a program. They have their own website. Here's a link: http://www.loanofficerschool.com/pages/home/
What are the home mortgage rates in Chicago?
The home mortgage rates in Chicago vary from area to area and are dependent upon the type of home you are thinking of owning or already own. You can contact a mortgage representative to learn more about home mortgage rates in your specific area.
