I have heard 3 months and even 6 months.
Posts Tagged ‘Wait’
After purchasing a home, how long must I wait before I can be approved for a Home Equity Loan?
03
Jun
I’m interested in buying an invesment property but the home needs a little work. I’d like to get a Home Equity Loan to cover some of the renovation costs. Would I be able to get a Home Equity Loan immediately after closing on the mortgage? If not how long must I wait before being approved for the Home Equity Loan?
I’m interested in buying an investment property but the home needs a little work. I’d like to get a Home Equity Loan to cover some of the renovation costs. The asking price of the home I’m interested in is 30% under market value. Would I be able to get a Home Equity Loan immediately after closing on the mortgage? If not how long must I wait before being approved for the Home Equity Loan?
The asking price of the home I’m interested in is 30% under market value.
Should I buy a house now with a stated income loan at 7.5 or should i wait 2 months for a 7.25% loan?
23
May
AT first they tried to get me to take a 80/20 loan which I didn’t want to
take…and so I asked about a 100% loan…does anyone know if this is an
okay rate (7.5%)? He said that property values might go up so we might want
to purchase now…what do you think? Washington mutals payments were the
same or higher with aslightly lower interest so I don’t quite get it. He
also mentioned at the top no mortgage insurance…what is that? I thought
it was required? Then it said with insurance…is that home owners
insurance?
We are going to look at more houses tommorow. Dan wants to wait a ocuple
months till we get some bills paid off (credit cards), but I am also
concerned about property values going up more, or interest rates to a point
that we cant afford to by a house. Any thoughts?
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How long should I wait before seeking a different mortgage company for a new home loan?
22
May
There are credit issues and the loan package has gone to underwriters. We’ve been dangling for nearly 3 weeks without a ‘yes’ or ‘no’ on our loan status. We’re considering taking our data and seeking another mortgage company to service our loan, but we don’t know if the long wait is normal or if we’re being put on someone’s “back burner”. Are we being strung along or just impatient?
Thanks for all the answers! We were able to resolve the problem today!
I want to refinance my mortgage due to the recent low rate. Should I wait longer?
22
May
I bought an apartment in 2007 and the mortgage rate for 30 years is 6.5%. I recently went to a bank and they gave me the rate of 4.9% (as of April 09) for refinancing. It seems like Obama’s plan is working which is great. But do you think the rate will even go lower? Should I wait longer or better to settle now?
My 5/1 arm will reset in 18 months, should I refinance home mortgage now, or wait for few more months?
24
Apr
Current rate of ARM interest is 5.125%. Would it better to go for 6.75% mortgage refinance at no closing costs, if I am planning to live in the same house for next 7 to 10 years?
How long do i have to wait until i can get an home equity line of credit?
11
Apr
I should move in my new house in july, how long do i have to wait before i can get a home equity loan? or what is my best option for getting 50K?
I will no car notes, no credit card payments, nothing more than my mortgage and bills that are associated with anew how. I have a fixed rate so im not in the whole.
Im just trying to do some research.
Thanks
Should I refi my home at lower rate(1%) lower and take cash or should I wait and use money from equity LOC?
07
Apr
I actually just locked down a rate @4.85% for 30 years with extra cash but I have to cancel my equity LOC which was done a few years back when housing was still good. Should I have tried to keep my equity loc open and not do the refinance? I never used the equity loc but it felt good to know I had some ready available funds if I needed it. (approx 150,000 approved)
How long do you have to wait for a home equity loan?
31
Mar
How long after purchasing a home do you have to wait to take out a home equity loan? Do you have to re-close? Are there loan you can take out beside equity if you own a home?
Mortgage refinancing- do it now, or wait? What direction are rates currently projecting on going?
06
Mar
Would it be better to refinance now at about 6.5% fixed for 30 years, or wait a few months? What’s the rate outlook? This is for New York.
Pay Back: Home Equity Or Wait? I Need Advice!?
07
Oct
Case scenerio: My husband and I owe my mother about $15K. We borrowed it last year and we would like to pay her back.
Also…We have a very large home on 3 acres only minutes from the city but it is unfinished. The 2nd level only is 1300 sq ft – it is just framed, no insulation. Our family lives on the main floor and we still have a ton of room.
How could we best put this together?
Should we:
Option#1: Apply for a home equity loan, hoping to get at least $15K. If we get more, we could partially finish the upstairs with insulation and pay my mother back. Do you get the full equity or a percentage? We have about $25K equity in the house. or…..
Option #2: Use our credit card to begin finishing upstairs, raise the value of the home and then apply for home equity later? This option would mean paying my mother off LATER rather than EARLIER.
Our home is large enough that we could get a (short term) boarder to help with expenses.
Which do you recommend? I’m not very good at this stuff.