If you are thinking of applying for a home equity loan, make sure you understand how your payment history on your current mortgage and your overall credit history will affect your chances of qualifying and the interest rate deals that lenders will offer you.
Remodeling your home – freshening up a living space, replacing the bathroom tile, or renovating to improve your home’s value in anticipation of a sale – can be a worthwhile investment. Financing your dream renovation depends on your credit scores – higher scores will lead to better interest rate offers on a loan.
If you are thinking about moving, you may want to review your financing options and the mortgage lender before scouring the real estate listings. Different types of mortgage lenders offer distinct advantages.