Do You Qualify for a Home Equity Loan?
Home equity financing allows you to convert home equity to cash. This can give you access to money for home repairs, debit consolidation and large, unexpected expenses. The amount you can borrow is based on your credit history and your home's appraised value. Here are some of the guidelines for homes that qualify:
- Owner-occupied, single-family residences accepted
- Mobile homes on a permanent foundation evaluated on a case-by-case basis
- Condominiums are not eligible
- The home must be in North Carolina or Virginia