Are home equity loan proceeds restricted as to purpose?
Yes. Home loans are restricted. A fee for a property appraisal to estimate the value of your home; An application fee, and closing costs, including fees for attorneys, title search, mortgage preparation and filing, property and title insurance.
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Top Questions Asked on ChaCha.com for Home Equity Loan
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Which f the following types of credits would best describes home equity loans?
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What is the highest percentage of market value a home equity loan will provide?
There were some home equity line of credits as high as 17%. T...
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What exactly is a open end home equity loan?
An open end home equity loan is a revolving credit loan. It i...
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Which of the following statements is true concerning home equity loans?
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About Home Equity Loan
In a home equity loan, the borrower uses the equity in their home as collateral. It's used as a form of insurance for the lender.
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