Home Equity Loans – second mortgage

Getting a home equity loan on a house that will be rented out involves having at least 20 percent equity in the home, examining a credit report and applying for the loan through various brokers. Get a home equity loan with advice from an experienced property manager and landlord in this free video on rental property. Expert: Damon Thompson Bio: Damon Thompson owns three rental properties in Detroit, Mich. and has owned up to seven rental properties at once for more than 15 years. Filmmaker: Lynell Doyle

Sarah

The average rate for a home equity line of credit will vary according to the financial institution, the property location, whether the property is an investment, and the homeowner’s FICO score. Check the Web sites of different lending institutions to determine what rate will be best for a home equity loan withtips from a registered financial consultant in this free video on home equity lines of credit. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

Frank

The most notable hidden cost associated with home equity loans is the origination fee, which is a point that the mortgage company will charge upfront against the value of the overall loan. Work with a company that has no origination fees withhelp from a registered financial consultant in this free video on money management and personal finance. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

Eddie

The home equity loan process generally begins with an appraisal of the house, followed by the underwriting process, the application and an assessment of assets. Receive a new mortgage coupon and any checks at the closing table of a home equity loan meeting withinformation from a registered financial consultant in this free video on home equity loans. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

Samuel