Can I get a Home Equity Line of Credit with 30% free equity in the house?

This should be pretty easy to get accomplished. For a line of Credit, I would recommend contacting your local community bank or credit union. Most Mortgage Originators cannot deal in equity lines of the size you are talking about. Here in Arizona, we have several community banks and Credit Unions that love catering to folks like you. Rates and terms should all be pretty similar between them. Good luck.

If your home's LTV is 70%, its loan balance is $210K, and its FMV is $305K you should be able to get a max HELOC of $34K (80% X $305K = $244K - $210K). The interest rate is prime, currently 3.25%, plus a % based upon the HELOC limit and your FICO score. You can get a $25K to $30K HELOC with Wells Fargo Bank at prime + 3.25%, or 6.5%, assuming your FICO score is 700 to 739., and you qualify for the HELOC. If your FICO score is 740+, the interest rate would be 5.875%. Even though the interest rates are quite a bit higher than current rates, you will only pay interest on the portion of the HELOC that you are using.

First evaluate the financial benefits of refinancing your current mortgage. What rate do you currently have? Can you lower that rate and still receive cash out? Have you served in the armed forces or national guard? A VA Cash out refinance in most cases can go up to 90% of the homes value.If you have questions call me at 1-855-QUOTE-RATE

All the answers are correct. If your current interest rate is 5.75% or higher, give me a call. We can switch you to a new loan at 4.0% and get you the cash you need. 727-433-2299 "The Mortgage Firm" We are in Altamonte Springs.

Hey Jeff... it shouldn't be a problem. Contact a local mortgage broker, not a bank and apply for your 2nd with them.. WilliamAcres.com