U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 06-13-2013, 10:10 AM
 
2 posts, read 2,306 times
Reputation: 10

Advertisements

Hi Folks,

Looking for some advice here. I'm in the process of getting a HEL. I can borrow 90% LTV without a full appraisal, and 95% with a full appraisal.

The 90% is based on an estimated market value of $145,xxx, which gives me about $9,6xx of equity.

Is it worth it to pay the $350+ for the full appraisal, in hopes the actual value will be higher than the estimated? Obviously paying for the full appraisal, and having the value come in lower would isn't desired

Thanks!
Reply With Quote Quick reply to this message

 
Old 06-13-2013, 10:53 AM
 
Location: Mount Laurel
4,146 posts, read 8,378,442 times
Reputation: 3409
Just curious.

How much does it cost your for the HELOC? Just trying to see if you should look at other options for loan if you are looking to get cash.
Reply With Quote Quick reply to this message
 
Old 06-13-2013, 12:29 PM
 
2 posts, read 2,306 times
Reputation: 10
Thanks for the reply.

I initially thought about doing the HELOC, but the HEL seemed to fit us better. I didn't like having the "credit card" so to speak, funds that a HELOC has to offer. Just a personal preference.
Reply With Quote Quick reply to this message
 
Old 06-18-2013, 05:26 AM
 
6,359 posts, read 7,324,210 times
Reputation: 10807
Why would you want to PAY MORE to go DEEPER in debt? You're better off on two counts with the lesser loan amount.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top