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Is a home equity line of credit or a mortgage a better way to obtain cash for remodeling on a second home with no current mortgage?
you should probably go with a home equity loan. If you shop around you can get it done with no closing cost. there are two kinds of equity loans. Home equity loan are adjustable rate and kind increase over the years and there are fixed seconds where your lock in for the life of the loan.
What else can I help you with?
What are the current home mortgage rates offered by Wells Fargo?
The current home mortgage rate offered by Wells Fargo is 12%. This is subject to change according to the credit rate of the applicant. The better a credit rating the better the interest rate they will be offered.
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
What are the current mortgage rates for various credit scores?
This is dependent on other contextual factors such as employment and geographic location, but with an average credit score a mortgage rate can be about 6%. A good credit score will have lower.
How can I refinance my mortgage through a credit union?
To refinance your mortgage through a credit union, you can start by contacting the credit union and inquiring about their mortgage refinancing options. They will guide you through the application process, which typically involves submitting financial documents and undergoing a credit check. If approved, the credit union will offer you a new loan with better terms to replace your existing mortgage.
What are the current home mortgage rates offered by Wells Fargo?
The current home mortgage rate offered by Wells Fargo is 12%. This is subject to change according to the credit rate of the applicant. The better a credit rating the better the interest rate they will be offered.
When would it be necessary for one to take out a second mortgage?
A second mortgage comes in two forms: home equity and lines of credit. It might be necessary to take out a second mortgage to pay for extensive repairs and remodeling or your home, of if you need a line of credit in a emergency.
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
What are the current mortgage rates for various credit scores?
This is dependent on other contextual factors such as employment and geographic location, but with an average credit score a mortgage rate can be about 6%. A good credit score will have lower.
How can I refinance my mortgage through a credit union?
To refinance your mortgage through a credit union, you can start by contacting the credit union and inquiring about their mortgage refinancing options. They will guide you through the application process, which typically involves submitting financial documents and undergoing a credit check. If approved, the credit union will offer you a new loan with better terms to replace your existing mortgage.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
How does one find the best mortgage rates when wanting to refinance?
The first thing you want to do is have a current credit report which shows all 3 reports. Once you have your credit report you can "price shop" different banks and mortgage company. A good place to start would be with your current mortgage company and see what they can offer you.
What are current US Mortgage Rates?
For a mortgage like this, the going rate right now is about 3.9%. Of course this could be more or less due to your credit.
Approximately, what is the current mortgage rate?
Right now the approximate mortgage rate is 3.5%. Of course this rate can vary based on your credit history and the company.
Do I go to a regular bank or a credit union to get a remodeling loan?
How do I go about getting remodeling loans? Do I go to my regular bank or credit union?
Can private individuals obtain construction loans for remodeling or building?
Remodeling loans are based, generally, on the equity in the property. A remodeling loan is usually a second mortgage. Loans for building, depend on what is being built. An individual who owns the land outright can usually get a loan to build a home, provided that his/her credit score and income:debt ratio is acceptable by the lender.
