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Company Loan Type APR Est. Pmt.

Taking out a home equity loan

Posted on: 05th Dec, 2013 01:24 am
If I buy a property via short sale on which there is a high amount of equity on the closing day, then how long he or she will have to wait before taking out a home equity loan?
Well, you may have to wait for 8-10 months to get a home equity loan.
Posted on: 05th Dec, 2013 02:41 am
Hi VPerry,

If you buy the property through cash, then you may be able to qualify for a home equity loan immediately after purchase.

Thanks
Posted on: 05th Dec, 2013 07:38 pm
Some lenders will use the appraised value the day after you own the property.
Others will require that you wait 6 or 12 months before you can use the apparised value to refinance.
Posted on: 06th Dec, 2013 06:47 am
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