When can I get a Home Equity Loan or HELOC?
Sunday, July 12th, 2009
joconn10 asked:
Just bought a house for $214k 30yr 6.125%, it was appraised at $244k. I’d like to make several home improvments and consolidate some debt. How soon can I get a Equity Loan or Line of Credit , seeing how i just bought the home I wasn’t sure if theres a waiting period i.e 6mo-1yr . Also which might be better for my situation the Loan or LOC?
Kathryn
Just bought a house for $214k 30yr 6.125%, it was appraised at $244k. I’d like to make several home improvments and consolidate some debt. How soon can I get a Equity Loan or Line of Credit , seeing how i just bought the home I wasn’t sure if theres a waiting period i.e 6mo-1yr . Also which might be better for my situation the Loan or LOC?
Kathryn