Mistakes in Getting a Home Equity Line of Credit

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Mistakes in Getting a Home Equity Line of Credit

• BY www.newhorizon.org

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Do you want to submit an application for a home
equity line of credit?
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If so, have a look at the subsequent errors and
ways to avert them . . .
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Not being clear about your lenders conditions on
early payment.
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2) Thinking that a home equity loan is the same
as a home equity credit line.
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3) Signing up for the first home equity creditor
without comparing rates.
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4) Not asking for the good-faith estimate of the
loan.
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5) Thinking that a home equity credit loan is tax
deductible.
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