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Home Equity Question?


Recently purchased a tax foreclosed home that needs work. What is the best way to go about obtaining financing for improvements? I was thinking about home equity line of credit, but did not know if just getting a loan using the home as collateral was better. I was told that the home equity line of credit is easier to obtain, but was unsure.

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6 Responses to “Home Equity Question?”

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  1. 6
    pioneerl Says:

    You can either use a HELOC or a personal loan. A personal loan requires good credit whereas you can get a HELOC, if you have decent credit. Yes, a HELOC is fairly easy to get and the process is painless.

  2. 5
    Marty S Says:

    I can help! Shoot me an email to msmith@premierloangroup.com, and let’s chat!
    Marty

  3. 4
    Akbar B Says:

    Go with the Heloc as the interest is tax deductible and the lenders will be more than happy to work with you on that. Good luck.

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