Equity Home Loans

home equity loans without equity?

Is it possible to get a home quity loan without having equity?

Public Comments

1. Not really.
2. Depends on the house and how well you bought it. If you bought a $200k house for 150k, you can get a loan for 50 k
3. Doesn't the name of the loan tell you that it is not? Many lenders used to do 125% cash out refinances but I know of none that do it anymore.
4. Depends. If you truely do not have equity, then no. If your home appraises for more than the loan payoff on your primary loan, then yes, you can
5. Some lenders will loan 125% of appraisal value, but I don't recommend you do this.
6. mar m Then he would have equity. He said he doesn't have any. Some lenders will loan up 120% of the value of the property. Shop around only some will do it and your rate might be high, because it is risky.
7. No. Why do you suppose it's called a "home equity loan"?
8. you pretty much answered your own question! If there is not any equity, where are you pulling the equity from? What mar m is describing is if you do have equity.
9. First, do not contact online predators. Spammers, like Marty from Premier Loan Sharks, are wanting to prey upon your situation, not help. You can suffer worse then financial lose, you could be giving your credit information to an identity thief and suffer for years to come. It is especially hard to deal with if you deal with anotehr country, there is no way to know where someone online is really located and if you have any legal rights if they steal from you. And no, you can't get a loan on something that does not exist.
10. I found some good info here.