answersLogoWhite

0


Best Answer

It is possible to get an equity loan, just don't reveal your selling plans just in case. As for the home improvements, anything you do will help the value of your home. You have to think about the cost of the improvement and if it is going to help your house sell for more than the loan. A real estate agent could help you figure out the value of a project.

User Avatar

Wiki User

18y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If you plan to sell your house in 6 months but would like to do some renovations first to increase the resale value is it worth it to take out a home equity loan or is it even possible in this case?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

What is the APR on a loan from Brentwood Bank?

The APR on a loan from Brentwood Bank varies on the type of loan and term length. For instance, a home equity term loan for 36 months is at 2.990%. An unsecured loan for 26 months is 9.75% and a 30 year mortgage loan starts at 4.26%.


What companies will offer reviews of the best home equity loans currently available?

When seeking the best home equity loans currently available, consider banking, loan, or credit report companies which offer such. Be certain to check the date of the report because this market is constantly fluctuating. Do not make a current decision based on information submitted two or months prior to your interest.


How often can you get a credit line increase?

That really depends on your income, utilization rate, and credit score. But if all factors were perfect, every 6 months. Most credit card companies do account reviews every 6 months to see whether they should increase your limit/APR, decease them, keep them the same, etc....


What impact are Reverse Mortgages on surviving heirs?

The heirs will have 6 months to refinance the home or sell it to claim the equity once the borrowers pass away. if there is no equity in the home or there is negative equity the heirs may give the home to the lender without any recourse. HECM reverse mortgages have no personal recourse to the borrowers or the heirs, so the home can be sold at any time, and if negative equity occurs the lender takes the loss alone. The heirs can even keep any loan proceeds left to them from the original reverse mortgage as all of the borrowers personal assets, bank accounts, etc. can still be left to the heirs without any hindrance from the lender.


Where can you find a home equity credit line without proof of income?

Nowhere! Any bank that would offer this to you is probably going to end up charging you 2x the financed amount and may forclose in as little as two months arrears.

Related questions

What is the EQUITY early on in a company?

it is where 46 months


Is this statement true or false Since supplies last for several months it is recorded as owner's equity?

Is this answer true or false. Since supplies last for several months it is recorded as owner's equity?


Which 3 kinds of preference share options can be classified as equity?

Redeemable preferred stock, Common stock, Employee stock options can be termed as equity in the financial market. If dividends are not continuously paid for 2 months the preferred stock can have equity rights like common stock


How quickly can an increase in government spending increase the gross domestic product?

6 months


How many days is there is 9 months?

It depends on which months (months differ in length) ADDITIONAL INFORMATION: The lowest number of days possible is 272, and the highest possible is 276.


Is it possible to write Mbbs semester exams that comes once in 12 months in 6 months?

Yes, it is possible to write the Mbbs semester exams that come once in 12 months in 6 months.


Current on the first but default on home equity line of credit?

They can take your home if you are in arrears. Might need to be more than 3 months in arrears to cause action. Check your loan terms. Home equity line of credit is essentially a second mortgage because you are using your home as security. Do not go further into debt, you have to increase your income or lower your expenses. Get rid of cable tv and all that extra crap.


Can height increase in only 2 months?

Yes


Is it possible to miscarriage after 4 months?

Yes it is...I suffered a miscarriage at 8 months.


Is it possible to have another baby 3 months later?

It is possible to become pregnant 3 months after delivering a baby, but the gestational period is generally 9 months in normal healthy pregnancies.


The temporary standard is intended to increase efficiency of operations for use for up to how many months?

24 months


Is it possible for someone to lose 50 pounds in 3 months?

Yes it is possible, but 50 pounds in 3 months is not advisable (too much).