Where to apply for home equity loan?

MissHell · 08-04-2009, 04:45 PM

Is it best to apply for a home equity loan with the lender the mortgage is with or my personal (checking/savings) bank?
I've been with my personal bank long-term, so was thinking it would be better to go to them.

RACER X · 08-04-2009, 06:25 PM

the one thats gonna give you the best rate

asdgirl · 08-04-2009, 06:30 PM

I have to agree with Ed. There is no consumer loyalty anymore, so I feel there is no nee for business loyalty, either.

Go with whoever gives you the best rate. If you finddddd someone to give you a better rate that isn't your bank, take it to the bank and see if they will match it just to get your business

Cass · 08-04-2009, 09:15 PM

If you've got good credit, check out a place that will approve you then shop the loan around. I know a lady who applied for a loan on Ditech.com and also at Countrywide (yes, back before it was Bank of America Home Loans).... Ditech gave her the better rate, so she signed with them. Not a month after closing on their house, the loan was sold to CW.

101lifts2 · 08-05-2009, 02:13 AM

Go with the lender that you bank with if the interest rate is close. This way if you ever have to modify the loan cause you can't pay it, it's easier. lol

08-04-2009, 04:45 PM	#1
MissHell Followed the crowd over. Join Date: Nov 2008 Location: Hawaii Moto: '07 Yahama R6 Posts: 911	Where to apply for home equity loan? Is it best to apply for a home equity loan with the lender the mortgage is with or my personal (checking/savings) bank? I've been with my personal bank long-term, so was thinking it would be better to go to them.

08-04-2009, 06:25 PM	#2
RACER X AMA Supersport Join Date: Nov 2008 Location: Richmond, Tx Moto: '10 Tuono Factory Posts: 4,569	the one thats gonna give you the best rate __________________ ΜΟΛΩΝ ΛΑΒΕ 2014 GROM! 181cc of FURY 2010 Aprilia Tuono Factory - SOLD 2009 SFV Gladius - SOLD 2008 Hayabusa - SOLD.

08-04-2009, 09:15 PM	#4
Cass Cassolicious! Join Date: Nov 2008 Location: Austin, TX Moto: SV Posts: 1,377	If you've got good credit, check out a place that will approve you then shop the loan around. I know a lady who applied for a loan on Ditech.com and also at Countrywide (yes, back before it was Bank of America Home Loans).... Ditech gave her the better rate, so she signed with them. Not a month after closing on their house, the loan was sold to CW. __________________ Begin at the beginning and go on till you come to the end: then stop.

08-05-2009, 02:13 AM	#5
101lifts2 WSB Champion Join Date: Nov 2008 Location: Anaheim, CA Moto: 2009 Kawi ZX6R Posts: 5,570	Go with the lender that you bank with if the interest rate is close. This way if you ever have to modify the loan cause you can't pay it, it's easier. lol __________________ Train Hard Ron Paul - 2012 Mark of Excellence GM

08-04-2009, 06:30 PM	#3
asdgirl Canyon Carver Join Date: Nov 2008 Location: Atlanta, GA Moto: 70cc Zuma Posts: 308	I have to agree with Ed. There is no consumer loyalty anymore, so I feel there is no nee for business loyalty, either. Go with whoever gives you the best rate. If you finddddd someone to give you a better rate that isn't your bank, take it to the bank and see if they will match it just to get your business