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It means that you take out a second mortgage to help make home improvements on your house. This often raises the value of your house if you are selling it.

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12y ago

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What is the purpose of a home improvement mortgage loan?

The purpose of a home improvement mortgage loan is to borrow money against the value of a house in order to carry out improvement work. Typically, this would be intended to increase the value of the house.


Where can one find information on home equity improvement loans?

One can find information on home equity improvement loans online on websites, such as Nationwide, Mortgage 101 and TD Bank. There are different types of home equity improvement loans.


From which companies can one get a home improvement loan quote?

There are several places to get quotes for home improvement. The first place to start is the bank for which you have the mortgage or there is myfico where you can calculate what you may be eligible for.


Can you get a loan for a home improvement project?

Yes, home equity loans and home equity lines of credit are typically used for home improvement projects. You can check with your mortgage lender and also your bank to see if you would qualify for one of these types of loans.


What mortgage services does Green Tree offer?

Green Tree Servicing operates in the area of housing loans, home equity and improvement and consumer instalment loans. They offer regular home loan and mortgage services.


What does held harmless mean in a home mortgage?

In a home mortgage, hold harmless means that a person knows that they accept all of the risks of the home mortgage. This includes any and everything that may happen while the mortgage is being held.


Where can one go for a home improvement mortgage?

There are many places where one can get a Home Improvement Mortgage. Banks will offer mortgages at different fees and rates. It is best if one spends time looking for what Bank best fits ones needs. The best place to start is with any Bank that is already in use by the person.


How can I refinance my mortgage to fund home improvement projects?

To refinance your mortgage for home improvement projects, you can apply for a cash-out refinance. This allows you to borrow more than your current mortgage balance and use the extra funds for renovations. Keep in mind that you'll need to meet certain requirements, such as having enough equity in your home and a good credit score. It's important to carefully consider the costs and benefits before proceeding with a cash-out refinance.


What is a modification on a home mortgage?

A home mortgage modification mean, "a change in already approved home loan either in interest rate or in its duration etc". Recently Obama administration has modified some 500,000 home mortgage loan.


What does mortgage mean in a sentence?

A mortgage is a loan secured by real property. Sentence: My sister was able to qualify for a mortgage and purchase her first home.


What does it mean to get a home loan?

It means you're getting a mortgage. For the definition of mortgage, see the related link below.


What does it mean by mortgage prequalification?

Mortgage prequalification is a term used when an initial application for a mortgage as been approved. This will depend on the information your originally applied for a mortgage, and will be further confirmed if you found a home to purchase.