Can you get a home equity loan on your apartment?
Yes you can. Typically, people refer to a loan as a home equity loan when they already have a first (primary) mortgage on the property. When your home is owned free and clear and you want to borrow from it, you are getting a new first mortgage.
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by Lisa T.
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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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