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      August 11, 2020

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Best Home Equity Loans

A home equity loan is a popular strategy for home owners that want to use the equity in their homes to create cash in their pockets. Home equity loans are typically used for home improvements, to pay off debt, make a large purchase, send a child to college, and much more.

A home equity loan can mean your existing loan is refinanced or a second loan can be assumed. Determining which move makes better financial sense, refinancing or a second loan, is dependent on several factors such as your current mortgage loan terms and which banks are willing to offer you a home equity loan given your creditworthiness. Before you call your current mortgage lender to discuss a home equity loan, you should consider shopping around for the best home equity loan rates. This can mean saving several thousands of dollars in interest and mortgage payments over the life of the loan.

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Best Reviews


2020

Home Equity Loan Reviews

5 stars
Smart Quote

SMART QUOTETopConsumerReviews.com Best-In-Class Blue Ribbon Award

Smart Quote is newer to the home equity loan market. They provide generalized home equity loan option information to visitors, but they also require more time and additional steps than some of the other companies.

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2.5 stars
The Easy Loan Site

THE EASY LOAN SITE

The Easy Loan Site matches prospective clients with various home equity loan lenders. Searching for a home equity loan is rather straightforward at The Easy Loan Site but, the website lacks the resources and education of those companies ranked higher.

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1 star
Lower My Bills

LOWER MY BILLS

Lower My Bills doesn't provide as promised. After taking the time to share rather personal information we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information.

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Continued from above

The best home equity loans may be found online from mortgage companies and banks that offer the most competitive rates available in the market. A few home equity loan companies even offer a mortgage broker like service that helps customers find the best loan, with the lowest interest rates terms.

Before jumping on the internet to search for your next home equity loan you should consider the following:

  • Loan Application. What are the steps required to begin the home equity loan search?
  • Selection. How many banks does the company work with to find you the best home equity loan rate?
  • History. Does the home equity loan company have a solid reputation that you can feel good about?

TopConsumerReviews.com has reviewed and ranked the best Home Equity Loan providers available today. We hope these reviews help you find the right home equity loan for your needs!

HELOC or Home Equity Loan: Which Is Better?

A home equity line of credit or home equity loan can help you borrow against the equity in your house to finance repairs or renovations that will increase your property's value. HELOCs and home equity ...

Published:  Fri, 07 Aug 2020 15:18:00 GMT



Should a homeowner in their 70s with an underwater mortgage let the property go into foreclosure?

I am a widow in my 70s and my mortgage is underwater. In addition, the house is in need of much repair. Can I just let the bank foreclose and move on? I don't want to buy again, just rent. A: It ...

Published:  Mon, 10 Aug 2020 03:02:00 GMT



How to get the cheapest 15-year mortgage rate for your refinance

But if you've been in your house a few years, refinancing into a 15-year mortgage can keep you from dragging out the debt and your interest costs. Though the monthly payments can be steeper, the loans ...

Published:  Sun, 09 Aug 2020 09:07:00 GMT



First Hawaiian Bank rolls out online home loan platform, adds Commercial Banking Group

First Hawaiian Bank launched a new online home loan platform that allows customers to refinance a current mortgage or apply for a new mortgage, or Home Equity Line of Credit without walking into a ...

Published:  Fri, 07 Aug 2020 13:04:00 GMT



MBA: Sluggish Activity for Home Equity Loans, Lines of Credit

Home Equity Lending Study suggests that home equity loan debt outstanding and borrower utilization rates declined in 2019, and mortgage lenders anticipate originations to fall again this year before ...

Published:  Thu, 06 Aug 2020 08:54:00 GMT



How you can cut the pricey cost of a mortgage refinance

Refinance closing costs total around $5,000, on average, mortgage giant Freddie Mac has found. But take a look at six ways to lower that price tag - or save on your refi in other ways. Mortgage ...

Published:  Sat, 08 Aug 2020 17:01:00 GMT



Home Equity Levels Improve Across Nation In Second Quarter Of 2020 Despite Coronavirus Pandemic

ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), ...

Published:  Wed, 05 Aug 2020 21:01:00 GMT



Should You Refinance Your Mortgage? This 30-Second Calculation Will Tell You

Here's an overview of how to tell if refinancing could be worth it for you, as well as some of the other factors you should consider before filling out an application. The key point to know before you ...

Published:  Sun, 09 Aug 2020 03:09:00 GMT



Down payment assistance needed to boost Orlando home ownership

Down payments are one of the biggest hurdles for homeownership in #Orlando, but assistance is limited. Do you own a #home? #Florida #housing #realestate #RRE #Orlandobusiness #businessnews #localbusin ...

Published:  Mon, 10 Aug 2020 06:30:00 GMT



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