A bargain and discount forum. BargainBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » BargainBanter forum » Discount and bargain forums » Frugal living
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Home equity loan with refinance appraisal?



 
 
Thread Tools Display Modes
  #1  
Old July 5th 03, 05:06 PM
Jeff
external usenet poster
 
Posts: n/a
Default Home equity loan with refinance appraisal?

I was wondering if someone could tell me if this scenario is possible
:

I paid $105K for my house in Oct.'01. Compared to similiar models,
it's currently going for around $130K. I am looking to refinace my
mortgage now. Here's the part I would like to know if is possible :
If my house appraises for $25K more than I paid for it after I
refinance - can I take out a home equity loan on that $25K?

Thanks ahead of time.
Ads
  #2  
Old July 5th 03, 05:23 PM
lpogoda
external usenet poster
 
Posts: n/a
Default


Jeff wrote in message .. .
I was wondering if someone could tell me if this scenario is possible
:

I paid $105K for my house in Oct.'01. Compared to similiar models,
it's currently going for around $130K. I am looking to refinace my
mortgage now. Here's the part I would like to know if is possible :
If my house appraises for $25K more than I paid for it after I
refinance - can I take out a home equity loan on that $25K?

Maybe. The last time I took out an equity loan (many years ago) there was a
percentage limit on how much of the equity could be borrowed against. If
you're within the limits, likely you can take out a loan.

But no one here is going to loan you any money. You should be asking a
bank/ mortgage broker what they'll be willing to do.


  #3  
Old July 5th 03, 05:23 PM
lpogoda
external usenet poster
 
Posts: n/a
Default


Jeff wrote in message .. .
I was wondering if someone could tell me if this scenario is possible
:

I paid $105K for my house in Oct.'01. Compared to similiar models,
it's currently going for around $130K. I am looking to refinace my
mortgage now. Here's the part I would like to know if is possible :
If my house appraises for $25K more than I paid for it after I
refinance - can I take out a home equity loan on that $25K?

Maybe. The last time I took out an equity loan (many years ago) there was a
percentage limit on how much of the equity could be borrowed against. If
you're within the limits, likely you can take out a loan.

But no one here is going to loan you any money. You should be asking a
bank/ mortgage broker what they'll be willing to do.


 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT +1. The time now is 12:51 AM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Copyright 2004-2018 BargainBanter.
The comments are property of their posters.