Home Equity Line of Credit
I’m considering applying for a Home Equity Line of Credit as I am starting some renovations on my 3 family in Brooklyn. Anybody out there have opinions of the pros and cons of such an operation, and the risks involved? Any experiences good or bad?
I’m considering applying for a Home Equity Line of Credit as I am starting some renovations on my 3 family in Brooklyn. Anybody out there have opinions of the pros and cons of such an operation, and the risks involved? Any experiences good or bad?
Having an Equity Line of Credit helps you when you need a loan especially with private lenders.I am a Loan Consultant and presently i am associated with a private Lender in America who is offering loans to people that have Equity Line of Credit.
The interest rate is very low,no collateral is needed,no credit history required and no upfront fees of any kind besides you will personally determine the time limit convenient for you to repay back the loan.
This is the reason why have an Equity Line of Credit is good.in case if you get one and needs a loan kindly get back to me through this email:teddysenyo@gmail.com and i will link you up directly with the lenders there in America.
I have used Astoria Federal Savings for a home equity loan. I just received it. The were wonderful. They gave me personal services and were fast. They even called to see if I was satisfied. Also they were about 1.5% & less than Chase and Citibank. The max. they they lend is $200,000.
You’ll be better off just taking out a Home Equity Loan. Then you know you have the money. The last thing you need is to get your line of credit reduced in the middle of renovations.
I think its very hard to get that in Brooklyn right now unless you have a lot of equity already. I would have very low epectations going in.
better have a lot of equity… not so easy any more. But if you can get one, interest rates are a bargain.
rates are good…tied to prime rate which although variable is not apt to go up much in near future. Closing costs are usually zero. And only pay interest on the amount using not the total line of credit. Just don’t spend more than can afford and have sensible timeline to repay.