tag:blogger.com,1999:blog-49034893505602441672012-02-16T05:00:14.424-08:00Hafidhttp://www.blogger.com/profile/11462112301015223206noreply@blogger.comBlogger21100tag:blogger.com,1999:blog-4903489350560244167.post-74439748038727906372008-06-04T03:20:00.000-07:002008-06-04T03:22:31.075-07:00If you are a homeowner in need of a home equity loan but you have not yet built up any equity in your home, don't despair. A 125 percent equity home loan may be the answer.<br /><br />A 125 percent equity home loan is a second mortgage loan that allows you to borrow up to 25% more than the value of your home. For example, if your home is worth $100,000 and you owe $100,000 on the mortgage, this loan program would allow you to still borrow up to $25,000.<br /><br />The 125 percent equity home loan is offered by various online lenders. Each lender has their own qualification and loan term guidelines but generally this is a credit score driven loan program. Credit score driven means that you have to have a certain credit score to qualify for the loan. In addition, your credit score usually determines the maximum loan amount you may qualify for and the maximum cash in hand you may receive. Also, some 125 percent equity home loan lenders may require seasoning on the length of time you have lived in your home. Three months is normally the minimum.<br /><br />When it comes to a property appraisal, most 125 percent home equity loan lenders do not require you to obtain one. They generally will use the purchase price of your home as the value if you have lived in your residence for 12 months or less. If you have lived in your home over 12 months, a recent tax assessment, simple drive-by appraisal, or automated value model (avm) can be used. An avm is a computer generated assessment of your home's value which is based on recent home sales of comparable houses in your neighborhood<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4903489350560244167-7443974803872790637?l=hafid-100homeequityloan.blogspot.com' alt='' /></div>Hafidhttp://www.blogger.com/profile/11462112301015223206noreply@blogger.com1tag:blogger.com,1999:blog-4903489350560244167.post-17468632534087513482008-06-04T03:19:00.000-07:002008-06-04T03:20:06.110-07:00Home equity loans allow you to borrow money using your house as collateral. These types of loans can be a very useful source of credit when you need it. The only problem is you have to pay it back, and you can’t afford to miss payments. Your house is at stake.<br /><br />100% Home Equity Loans<br /><br />When you get a home equity loan, you can usually borrow up to 100% (or more) of your home’s value. For example, if your home is worth $90,000 and you only owe $50,000, you have $40,000 in home equity to play with.<br /><br />How Much Should You Borrow?<br /><br />The amount of money that you borrow should depend on your personal situation. If you borrow 100% of your home’s equity right away, you are not leaving yourself with many options for the future. At the same time, home equity loans are a very good source of credit when you need it. Make sure you carefully assess your situation before making a final decision. Borrow enough, but don’t borrow more than you need.<br /><br />Repaying Your Home Equity Loan<br /><br />No matter how much money you borrow, you will have to pay it back. Consider this carefully before getting a 100% home equity loan. Remember, if you get a loan and cannot make the payments, you could be putting your home at risk.<br /><br />A Final Piece of Advice on 100% Home Equity Loans<br /><br />A 100% home equity loan may not be right for everyone. Before making a decision, contact different lenders, compare options, and find the home equity loan that meets your individual needs.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4903489350560244167-1746863253408751348?l=hafid-100homeequityloan.blogspot.com' alt='' /></div>Hafidhttp://www.blogger.com/profile/11462112301015223206noreply@blogger.com0