Question 1

How much can I borrow with a HELoan in Lemoore?

Accepted Answer

Most lenders cap combined loan balances at 80% of appraised value. Your borrowable amount depends on your home's value minus what you owe.

Question 2

Will a HELoan affect my existing VA mortgage?

Accepted Answer

No. A HELoan is a separate second mortgage. Your VA first mortgage terms stay completely unchanged.

Question 3

Is the interest rate fixed on a HELoan?

Accepted Answer

Yes. HELoans carry a fixed rate for the full term. Your payment stays the same every month. Rates vary by borrower profile and market conditions.

Question 4

How long does a HELoan take to close in California?

Accepted Answer

Expect 3 to 6 weeks. California requires a 3-day right of rescission after signing, which adds time to funding.

Question 5

Can I use a HELoan to pay off credit card debt?

Accepted Answer

Yes, and it often makes financial sense. You're trading high-rate unsecured debt for a lower fixed-rate secured loan.

Question 6

What credit score do I need for a HELoan?

Accepted Answer

Most lenders start at 620. Scores above 700 typically unlock better pricing. Rates vary by borrower profile and market conditions.

Home Equity Loans in Lemoore, CA