Tap into the equity of your home to pay for home improvements or other major expenses. Check rates for a Wells Fargo home equity line of credit with our loan calculator.
Wells Fargo. https://www.wellsfargo.com/equity/solutions/types/ "What is a Loan to Value Ratio?" DoItYourself.com. http://www.doityourself.com/stry/loantovalueratio "Home Equity Product Guide." GetSmart. http://www.getsmart.com/grd/articles/homeequityloans/ home_equity_loan_guide.asp ...
Figure out how much you can afford to borrow. The best way to do this is with a home equity amortization calculator such as the one at WellsFargo.com. You can also use a book containing amortization values. Determine a potential home equity loan amount, interest rate and term in months. ...
Ahome equity loanis most useful when you need a specific amount of money for a project or investment. As we’ve established, a home equity loan involves borrowing against the equity in your house. The loan comes in a fixed amount that is repayable over a set period of time, which is wh...
Closing costs are typically 2% to 6% of the new loan amount. Use theTriRefi calculatorto determine whether it’s better to pay out of pocket or roll the cost into the loan or interest rate. Home Equity Borrowing A home equity loan, also called a second mortgage, provides a lump sum pay...