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Search resuls for: "Alene Laney"


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Keep funds for home maintenance in a high yield savings account or another liquid savings account. Homeowners who don't have enough for repairs can borrow funds through a home equity loan. We have some tips on how much to budget for home maintenance, where to keep your money, and what to do if you don't have enough money saved up when you need it. You'll also avoid hefty borrowing expenses if you've saved enough for home repairs when you need to make them. There's a faster approval process than with a home equity loan, and your home isn't at risk.
A home equity loan allows a homeowner with significant equity to borrow a large sum of money. A home equity loan is a fixed-rate loan that allows you to turn the equity in your home into cash. This ratio will include the amount of the home equity loan borrowers apply for.. On a home equity loan, lenders look for a DTI ratio of 43% or lower. To start the process of qualifying for a home equity loan, you may first want to estimate how much you can borrow on a home equity loan. Because you secure the loan with your home, you'll pay a lower interest rate on a home equity loan than you would on a personal loan.
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