The LowerMyBills Insider's Guide to Home Equity Loans

 

Home Equity

 

     

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  The LowerMyBills Insider's Guide to...

Home Equity Loans

Home Equity Worksheet

Ask the right questions, so you can be sure that you're getting the right loan. We've put together the following list to help you in your conversations with lenders.

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Questions to ask when shopping for home equity loans...

Lender Names:  

       
► Is this a loan or home equity line of credit (HELOC)?        
► What are the fees associate with this loan / HELOC?        
► How long is the term of the loan?        
► What is the annual percentage rate (APR)?        
► Are there any continuing costs associated with this loan?        
► What are the minimum and maximum withdrawals I can make?        
► What are the total closing costs and who pays for which items?        
► What is the cap on the variable interest rate loan?        
► If interest rates go down, how low will my loan go?        
► If interest rates go up, how high will my loan go?        
► Will you loan to me if my house is for sale?        
► How do I access the loan or line of credit?        
► Can I lease my house during the time of the loan?        
► Under what conditions can you demand full payment of my loan?        
► Do I have to use my credit line right away?
 *(HELOC Only)		        
► What is the lifespan of my line of credit?
 *(HELOC Only)?		        
► How large a line of credit do I qualify for?
 *(HELOC Only)		        

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   LowerMyBills, Inc. is not acting as a lender or broker. The information provided by you to LowerMyBills is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender.
 

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