Archive for the 'Home Equity Programs' Category

Finance Energy Efficiency with an FHA Home Equity Loan

Thursday, May 5th, 2011

The U.S. government announced a FHA home equity loan program that cost-effectively finances energy efficient appliances and solar energy installation.  Home equity rates have declined to record lows as the cost of money continues to be cheap because the Federal Reserve has kept the discount rates at nearly zero.  Most second mortgage programs require equity, [...]

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When Should I Refinance My Home Equity Line of Credit?

Friday, May 14th, 2010

Dear Smart Home Equity: We currently have home equity credit line with an interest rate prime plus 1.5 %. The equity line payment is small because it’s interest only, but I’m concerned that the rate will start rising and I might not qualify for an equity loan refinance, because I’m self-employed.  I may be doing [...]

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Is a Debt Consolidation Loan Right For You?

Monday, May 10th, 2010

Thousands of homeowners have benefitted from consolidating debt with our home equity loans.  As the government cracks down on subprime mortgage lending it is inevitable that home equity loan guidelines will tighten for cash out and debt consolidation loans.  Consider these three steps below before taking out an equity loan to consolidate debt. 1. Determine [...]

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Homebuilders Report Increase in Home Improvement Financing Demand

Monday, May 3rd, 2010

Needless to say, the home equity sector of the mortgage industry has had three poor consecutive years.  With the credit crunch nearly killing all home equity loan programs across the nation, it was difficult for homeowners to access cash with a home equity line of credit or a closed end second mortgage.  2010 is showing [...]

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Second Mortgage Modifications for Credit Lines and Equity Loans and

Tuesday, September 1st, 2009

The use of second mortgage liens grew during the housing boom as homeowners extended themselves with home equity loans to consolidate debt and finance as much as 100% of the original purchase price. Administration officials estimate that modifying home equity loans could help as many as 1.5 million homeowners.  An Obama official said that “by bringing the 1st and 2nd [...]

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Home Equity Loan Versus Home Equity Line of Credit

Monday, January 12th, 2009

Both home equity loans and home equity credit lines are second mortgages, but these home equity products do have some differences with the interest rates and terms.  First of all home equity loans are installment loans with a fixed interest rate amortized on a set term.  The monthly payment for an equity loan is the [...]

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Home Equity Line of Credit Guidelines

Monday, January 5th, 2009

Most home equity lenders have mortgage guidelines that vary, like loan to value, credit scores, residual income, cash out limits, loan amount limits, etc.  Some second mortgage lenders offer equity loan programs with no lending costs and annual costs for equity lines of credit. These days, most mortgage lenders will limit borrowers to 65% loan [...]

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Home Equity Loan Products

Monday, December 29th, 2008

Smart Home Equity Loans is a reliable connection for home equity loans online.  Our equity loan products range from installment 2nd mortgages with fixed interest rates to revolving home equity credit lines that offer flexibility and quick access to tax deductible cash. Most homeowners like home equity loans because they enable the borrower to get low rate [...]

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