How does a home equity loan work?

CS asked:


I have about 30K in equity. Like to do some home improvements. Current mortgage each month is 1200.00. How does the loan work in conjunction with the monthly payment? Is it seperate, bundled into the payment, etc? Is there a term to pay off the loan or is it part of my 30 year fixed? Overall would like to know how much more I will be paying over my 1200.00 for the loan each month with current assumptions. Fees to get the loan started? Thank you!!
It’s pitiful that I’m asking a question and I have people preying on my question with these fairy tale lenders. Give me a break people- did honesty and ethics fly out the window here? Have some humanity

TRENTON
Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Fark
  • Furl
  • LinkedIn
  • Ping.fm
  • Propeller
  • Reddit
  • StumbleUpon
  • Technorati
  • Tumblr
This entry was posted in Renting & Real Estate and tagged , , , , , , , , , , , , . Bookmark the permalink.

One Response to How does a home equity loan work?

Leave a Reply