Posted on: 17th Jun, 2008 10:33 am
i bought a home before i was married. now i want to take out a home equit loan. does my spouse have to be on the deed or sign the papers for personal property owned by me?
what is the difference in a heloc and a home equity loan.
which one does not require my title to be changed?
thanks
tina
what is the difference in a heloc and a home equity loan.
which one does not require my title to be changed?
thanks
tina
Hello Tina.
If you are taking the loan on your name only then you need not to add you husband on the deed. But you can talk about it with a loan officer.
If you are taking the loan on your name only then you need not to add you husband on the deed. But you can talk about it with a loan officer.
A HELOC is a line of credit much like a credit card on your equity. You only make payments on the portion you have used.
Home Equity Loan is a loan where you get all of the money at once.
TX has unique laws when it comes to getting cash out.
Good Luck
Brian
Home Equity Loan is a loan where you get all of the money at once.
TX has unique laws when it comes to getting cash out.
Good Luck
Brian