My husband and I are in escrow for a house. We would like to remodel the kitchen with a home equity loan (we are buying the house for well under the market value). Is there any way to take out a loan on part of the equity before 6 months?
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Do You *have* To Wait 6 Months Before Taking Out A Home Equity Loan?
Sunday, May 24th, 2009Do You Need To Have More Than 20% Home Equity To Borrow Against For A Home Equity Loan?
Saturday, May 23rd, 2009A friend just asked me to borrow money to pay her mortgage this month- she plans to take out a home equity loan to pay me back. She has only owned her house for two years, and I assume she would have only put 20% down. Will the bank allow her to borrow against that 20% or would it only be any appreciation in excess.
