Search:

An article on Mortgages and related topics

For additional information and special deals related to some of the items on this article, place your cursor over the double-underlined links. All information supplied by Kontera.com

Mortgage Equity - A Case Study

By: Emanuele Allenti

Wells Fargo is one of the leading firms that offer home equity loans with no closing fees; however, whether or not you pay closing fees will depend on the amount of loan borrowed and the state in which the property is seated. The “no closing” package also depends on the level of credit the borrower has established.

Some lenders offer a 7.00% APR variable rate on the loans and these rates are active on a set timeframe, but again, it depends on the amount of loan borrowed. The bank states if the borrower accepts the repayments; thus, direct deposit relations then the rates will remain in effect, but if the borrower opts to close his accounts and selects to pay by check, money order, or other method outside of a active direct deposit payment, then the rates will increase on the loan.

Furthermore, the bank states that the rates are “subject to change daily,” thus posing threats to the borrower. In addition, there are fees on a set time if the borrower elects to pay outside of direct deposit arrangements. Additionally, the bank stipulates that the borrower must pay “flood and hazard” insurance during the term of the loan. Other lenders offer similar but slightly different equity loans, which is why you should weigh out the terms between lenders to avoid significant loss.

We pointed out the terms in this article to help you to see that the advertisement for equity loans offering no closing fees or other upfront costs has stipulations in the loans. Therefore, read the terms and fine print to better understand what you are actually getting into when taking out home equity loans. In addition to this, you may also want to get quotes online, which can help you compare companies.

Article Source: http://ezine-articles-planet.com

Emanuele Allenti is the owner of home equity loans and best home equity loans websites.

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Mortgages Articles Via RSS!

Additional Articles From - Home | Finance | Mortgages

A primer on buy to let mortgages - By : Richard Heaney
80/20 Combined Mortgage and Second Mortgage? - By : Amanda Hash
Using a Mortgage Broker - By : Network Data
How Credit Rating Impacts A Mortgage Application - By : Brian Jenkins
How To Determine Which Kind Of Mortgage Is Best For You - By : Brian Jenkins
Important Details About An Interest Only Mortgage Loan - By : Brian Jenkins
Tips To Secure A Mortgage With A Low Credit Score - By : Brian Jenkins
Are You Losing Your House Due to Your Home Mortgage? - By : ClaraKenpnb
Advice For Researching Mortgage Rates Online - By : Mike Cole
An Overview Of An Asset Based Mortgage - By : Mike Cole

Authors, Sign Up for a free account or learn more.

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Writers/Authors Submission Guidelines
Member Login
Submit Articles
Most Popular Articles

Publishers Article RSS Feeds
Terms of Service

Adsense Secrets 4 - Recurring Top 1% Commissions

Free Affiliate Training

Share This Page:

Site Information Link to Us
About Us
Site Blog
Contact Us
Privacy Policy
Multi Site Article Search
Links Directory

Sponsors from all over the web

Would you like your site listed here?

Is This Site Useful?
If you found this site useful, please consider buy the webmaster coffee and get a free link back to your site!

Thanks for your support!

Please Rate and Vote For Us: