Mortgage Elf
Home Quotes Lenders Loans States About Contact Research
 
Quote Button
 
Mortgage Loans
 
Debt Consolidation
Second Mortgage
Home Equity
Home Improvement
First Mortgage
No Equity
Refinance
Purchase
Cash Out
Jumbo Mortgage
FHA Streamline
VA Streamline
125 percent Second Mortgage
100 percent Second Mortgage
80 percent Second Mortgage
Fixed-rate Mortgage
Adjustable Rate Mortgage

No Equity

It�s almost as if all mortgage products go through cyclical trends. For example in the beginning of the millennium, refinancing and first mortgages made their debut and took advantage of the extraordinary boom.

Today, the no equity loan and home equity lines of credit are making its way into the lending habits of Americans. While the possibility of interest rates escalating lurks in the shadows, no equity loans, refinances and extra cash are several of the options waiting to come to the rescue. For the American homeowner who possesses an optimal credit standing, a no-fee or no equity line is a favorable option with both prime and appealing rates.

For the homeowner in quest of the lowest interest possible no equity loan, the best way to scout out the ultimate deal is to conduct a bit of comparison shopping. Certain consumers have found the best deals originate from both smaller lending companies and banking institutions.

Yet, be cognizant of the fact that no-fee home equity lines generally come with an associated requirement of some sort. For example, some no fee home equity lines may require the borrower to open and maintain a credit line for a minimum of two or three years or else pay a fee for securing the line of credit. In other lending institutions circles, lenders are extending home equity lines as an amenity or extra service stemming of the borrowers� first or primary mortgage.

Final word of advice regarding no-fee home equity lines, make sure, before signing up for a home equity line, that you have feel comfortable presenting your checking account as evidence of your assets and as a method for obtaining regular payments. Certain mortgage companies require borrowers to request money in writing and then wait for a check to be mailed each time money is needed to draw from the home equity line.