How do you get a 125% home equity loan?

Answer by  boy (177)

In the aftermath of the financial crisis, given the current housing and banking climate, it is doubtful that this type of loan would be approved. Likely a dinosaur of the age of easy money for home ownership, it is a loan in excess of the homeowner's actual equity by 25%.

Answer by  tamarawilhite (17883)

These loans are no longer available in most cases, regardless of your credit score. The loan is backed up by the equity in the property, which is sold in case of default. In very rare cases, you can get an equity loan when the proceeds are used to fix up the house and improve its value.

Answer by  Heather77 (22)

In need of cash and have good credit, then a 125% home equity loan might be for you. You may qualify for the value of your home times 125%, minus the amount you owe on your current mortgage by applying with your bank.