Financing in 75023>Question Details

diyuehua, Home Buyer in Pittsburg, CA

1. Does Home Equity Loan has another name as Cash Out? How much charge for the process fee?How about interest rate? 2.If I want borrow $70,000 sum

Asked by diyuehua, Pittsburg, CA Mon Mar 5, 2012

cash from my current owned house with market value $110,000. What is my options?
My email address is, my name is Xiaohua. Thank you.

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Dear Diyuehua

please contact my loan office Terri Howell at 817-521-5030

she is very good and can help you out

Please go to

and send me your email ,

my service is free for you , I get my commission from seller

so please do not hesitate to contact me at 469-252-4661

or send me an email :

0 votes Thank Flag Link Wed May 1, 2013
Asking the wrong people, we do not know for what or why you are trying to borrow money. The questions imply you want short term money, the most difficult type of loan to find today. If you already have a mortgage on the home there may not be enough equity to get $70,000 on top of the existing loan. This type of loan is typically a retail product available from a bank or credit union. We can broker them with a purchase money mortgage but it usually isn’t a pretty or smooth transaction. In the former world I closed thousands of HELOC’s, none last year or so far this year, good luck,
0 votes Thank Flag Link Tue Mar 6, 2012
I noticed that you identify yourself as a Home Buyer in California? If you don't live in the house, you wouldn't be doing a normal Texas Home Equity Loan. What is your occupancy type? That will determine your interest rate and fees, in addition to the normal credit score and income guidelines.
Barbara Coker
Licensed Mortgage Loan Officer
100% Home Loans ALL Over Texas!
Web Reference:
0 votes Thank Flag Link Tue Mar 6, 2012
Hi Xiaohua, short answer is "yes", the HELOC (home equity line of credit (or loan)) is in essence a TX cash-out refi transaction - you can only borrow up to 80% of your current appraised value; the charges vary but they cannot exceed 3% of the LA (loan amount); if your house appraises for $110k, then you should be able to pull the $70k cash from the property value; you can elect to pay for the fees out of pocket or roll them into the new LA - either is completely acceptable; as for the interest rate it will vary primarily based on your credit score. The HELOC is typically an adjustable rate loan - hence, "line of credit", it operates like a credit card, just secured to your property. More info if you'd like to contact me - it's late and thoughts are in slow motion now:)
hope this helps
Brenda Jones
Sr Mortgage Consultant
Republic State Mortgage
0 votes Thank Flag Link Mon Mar 5, 2012

You need to contact a lender to discuss what you need and your options.

Thank you!
Susie Kay, GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240

Servicing your real estate need is my priority!
0 votes Thank Flag Link Mon Mar 5, 2012
Recommend to contact a mortgage broker direct who can answer all your questions. Your closing costs will most likely roll into the loan which be approx. $3K -$5K .

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
0 votes Thank Flag Link Mon Mar 5, 2012
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