Log in

View Full Version : Financial help-loan on paid village home

doran
09-12-2014, 05:36 PM
We have a Villa that is only three years old--it is paid in full--we need to do some work on the home for health reasons and would like to get a loan of $30.000.00 using the home as security--With monthly payments--
If you are interested please call me ask for Ed or Susan

352-633-8185
jane032657
09-12-2014, 05:39 PM
Why don't you look at a reverse mortgage?
doran
09-12-2014, 06:08 PM
Not old enough for this type of loan
Challenger
09-12-2014, 06:08 PM
We have a Villa that is only three years old--it is paid in full--we need to do some work on the home for health reasons and would like to get a loan of $30.000.00 using the home as security--With monthly payments--
If you are interested please call me ask for Ed or Susan

352-633-8185

Home equity loan at almost any bank!
justjim
09-12-2014, 06:44 PM
Shop around for a home equity loan at several financial institutions including credit unions. Trust me---there is a difference!
jnieman
09-12-2014, 07:05 PM
Try quicken loans.
villagetinker
09-12-2014, 07:11 PM
Home equity is the way to go, and you can deduct the interest.
OBXNana
09-12-2014, 07:18 PM
Do you have an account with a local bank? A lending officer can sit down with you and explain your options. Some banks and credit unions reduce the interest rate, a small amount, but adds up over time, if you are a customer and/or have the payment taken directly from your account with their bank.

A mortgage or line of credit would be your best options and both can be explained by a lender.

Best of luck.
rjm1cc
09-13-2014, 03:12 PM
Interesting. I assume you are offering a fellow villager a chance to earn a higher rate of interest and you save some money too. Not a bad idea.

You night look at www.lendingclub.com/‎ for a personnel loan.
There is another lender doing similar loans but I can not find its name.
A mortgage from a credit union etc. might be cheaper, lending club makes unsecuried loans as I recall.
llaran
09-13-2014, 03:35 PM
Go to TRUSTCO BANK, Talk to George the manager. Trustco is in the strip next to Home Depot and behind Panda Express.
asianthree
09-13-2014, 03:55 PM
Have you thought of doing renovations in stages and paying off as you go