125% Equity Home Loans

If you are a homeowner in will need of a household equity loan but you have not but built up any equity in your property, do not despair. A 125 percent equity home loan might be the answer.

A 125 percent equity house loan is a second mortgage loan that makes it possible for you to borrow up to 25% much more than the worth of your property. For example, if your dwelling is worth $100,000 and you owe $100,000 on the mortgage, this loan program would enable you to still borrow up to $25,000.

The 125 percent equity property loan is provided by a number of on the net lenders. Each lender has their own qualification and loan term guidelines but typically this is a credit score driven loan program. Credit score driven indicates that you have to have a particular credit score to qualify for the loan. In addition, your credit score in most cases determines the maximum loan quantity you could qualify for and the maximum cash in hand you could possibly receive. Also, some 125 percent equity household loan lenders may call for seasoning on the length of time you have lived in your home. 3 months is normally the minimum.

When it comes to a property appraisal, most 125 percent house equity loan lenders do not need you to obtain one. They commonly will use the obtain price of your household as the value if you have lived in your residence for 12 months or much less. If you have lived in your property over 12 months, a recent tax assessment, simple drive-by appraisal, or automated value model (avm) can be applied. An avm is a pc generated assessment of your home's worth which is based on current property sales of comparable houses in your neighborhood.

For much more info on 125% household equity loans, or to compare rates and programs of 125% dwelling equity loan lenders go to