100% Home Equity Loans - Tips On Getting Approved
By : C.L. Haehl
A 100% home equity will allow you to borrow money from the value of your home that you can use for whatever you want. There are a number of uses for these loans and you can often receive lower interest rates than your credit cards, however the interest rate will generally be higher than your primary mortgage.
A 100% home equity loan will allow you to borrow the complete value of your home.
There are some key documents that you will need to get approved for a 100% home equity loan. These documents include:
• The tax assessor’s home appraisal
• Your two most recent paycheck stubs from your employer
• Most recent mortgage statement
• The legal description of your property
• Current property insurance policy
• If you are self-employed, you will need to have your two most recent 1040 tax returns including all schedules
• W-2 or 1099 forms from the past 2 years
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