A variety of banks will provide home equity loans. Go to a local bank in your area and they can help you evaluate your credit and financial resources to see if you can qualify.
Every lender has different requirements, but the standard is 80% of your total home value. A $100k home may have up to $80k in loans against it. Some lenders will go to 90% or in some rare cases...
Yes, and it must be paid off before house can be sold. It creates a lien, just like a first mortgage. A mortgage is a specific, fixed amount procured to buy a property or make improvements. The...
Lenders require steady income with a history that can be documented and a future that can be reasonably assumed. So a non-working retired person with a pension sufficient to meet the income...