What Do Lenders Look For When Assessing Home Equity Line of Credit Applications?

The two most common ways for homeowners to borrow money they need by utilizing the equity of their residential properties are home equity line of credit and home equity loans. In both these lending schemes, they need to secure their houses as collateral. This implies that if they default in paying off their obligations under these forms of financial assistance, the lenders have a right to take away their homes. Every financial institution evaluates their clients’ application under home equity line of credit and home equity loan separately from their competitors. However, there are common guidelines that the officials of these organizations use to determine an individual’s eligibility under both the schemes.


An expert who is a class apart


Steve Liefschultz is a popular banker and real estate expert from Minnesota in the United States. He is the Chairman and Chief Executive Officer of Equity Bank, a financial company that he owns, operates and manages in the area. His corporate enterprise specializes in offering real estate loans and investment lines of credit at competitive rates to entrepreneurs, businesses and individuals in the region. This former lawyer and real estate broker understands that both banking and investments in the area of real estate opens up new opportunities to his clients who intend to enhance their shareholder value.


He says the requirements that financial institutions look into when assessing their clients’ eligibility under home equity line of credit and home equity loans are as follows:


  • Combined Loan-to-Value Ratio

When an individual applies for a home equity line of credit or a home equity loan, the lenders offering such schemes first determine the combined loan-to-value ratio. They arrive at this figure by dividing the sum of the balance that such a person owes on his/her mortgage and other loans by the appraisal value of his/her property. This determines the risk the lenders undertake when they extend such loans to their borrowers.

  • Credit Score

Residential owners are aware that a good credit score is a vital precondition when it comes to applying for a home equity line of credit or a home equity loan. However, this prerequisite may vary depending upon the financial institutions they are approaching for such loans. In most cases, such lenders usually ensure the borrowers applying under such schemes have a score of above 720 before they sanction such loans.

  • Debt-to-income ratio

A high credit score helps financial institutions assess the loan applications of their borrowers under home equity loan and home equity line of credit. However, another important aspect that the officials of these organizations need to take into consideration is debt-to-income ratio. This figure ascertains amount an individual spends from his/her monthly income to repay his/her existing mortgage and other debt obligations.


Steve Liefschultz goes on to say many financial institutions offering home equity line of credit and home equity loans look into other factors in addition to the above. These include whether their borrowers have any previous history of bankruptcy or foreclosure that can have a negative effect on their loan application under such schemes.

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IBMH Launches Video To Explain How To Save Up To 50% On All Purchases Made

IBMH Launches Video To Explain How To Save Up To 50% On All Purchases Made

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In his address at the Baylor University, Mark Hurd explores and examines the difficult challenges and the incredible opportunities that can be had by synchronizing and condensing huge amount of data into compact form. We come to service your place in completely civilian dresses so that you are not marked upon for having bed bugs.

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Relationships, Romance, And True Life Love Stories

Relationships, Romance, And True Life Love Stories

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Twilight, and different books like Ella Enchanted are good, but I don’t really think they’re all about the love story, and they just don’t have that feeling that moves you like Pride and Prejudice, Wuthering Heights, and even A Walk to Remember. I had two best friends and they were both boys, and one of them I fell in love with and I loved him for six years, but I never told him because I was scared it would ruin our friendship.

Tell my viewers a true love story sponsored by you, your company or your product. Romance novels focus on the love between between people and the stories can take place on a wide variety of backdrops. He admitted that at one time, he was in love with me. After months of torturing myself over whether his feelings for me were ever real, I felt validated and relieved by his confession.

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Professional End Of Tenancy Cleaning Services

Professional End Of Tenancy Cleaning Services

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He called a company to clean when I was supposed to leave, but when I found out how much it would have cost, I looked for a cheap end of tenancy cleaning in West Hampstead on my own. We gladly produce invoices as proof of cleaning for your letting agent or landlord.

Alternatively, you can hire a steam cleaning service to wash all your upholstery items. We have teams of cleaners fully trained to accomplish outstanding standard in our Professional End of Tenancy Cleaning service, which will save you time and money. Call us, use our booking form or e-mail to reserve the cleaning of your rented or own flat or house.

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When you decide to move out of rented accommodation, an important part of the moving process is the tenancy cleaning service. They are affordable, done by qualified and skilled cleaners and guarantee fully refunded deposits. We’ve cleaned for thousands of tenants, landlords and estate agents, so we’re certain our cleaning service is the best in the West.

End Of Tenancy Cleaning Basildon

End Of Tenancy Cleaning Basildon

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Forex Trading Broker

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Law Practice Management Software

Law Practice Management Software

People, with whom digital records are shared, book 25% more appointments with the same doctor. APS is user friendly, integrated software which ensures our firm is run efficiently and effectively. Then, we conducted several interviews with practice management users who have firsthand experience with the EHR systems on our final list. Cost and time effectiveness: By eliminating the time taken to collect and verify several documents, the practice management software reduces the time to complete many tasks.

According to Mark Wagner, senior director of ambulatory research at KLAS, PM software is one of the highest scoring segments that KLAS examines. I used to try and keep track of everything with spreadsheets but there is no way I would go back to doing that after using this software.

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These best copper nails available in the market are used for various purposes at a single point of time and put into use at various places because of their unique properties which makes them stand in the crowd and make the consumer or the user proud of the fact. These copper nails are better in comparison to the other metal nails and thus used more often by the builders as well. They tend to recommend the use of the same in most of the cases by default because of its varied properties.

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