One thought on “What size home equity loan can I qualify for?

  1. Arti says:

    However, you should always consult your tax advisor about the deductibility of interest. The interest you pay on your home equity loan may be tax deductible. Yes, you can expect to pay the same types of fees you would when getting a mortgage, which include an origination fee, appraisal fee, escrow fees, attorney fees, application fees, etc. However, since a few of these fees are a percentage of the amount borrowed, you can typically expect them to be less than you would pay for a first mortgage. You can use a home equity loan for a variety of purposes, including home improvements, major purchases (appliances, cars, RVs, boats, etc. The amount you can borrow will be based on several factors, including home equity, your creditworthiness, and your debt-to-income ratio (i. e. ), debt consolidation, and miscellaneous expenses.

Leave a Reply

Your email address will not be published.