# Home equity loans...

**URL:** <https://forums.speedlife.net/t/home-equity-loans/75796>\
**Category:** NYSpeed Off Topic\
**Created:** [November 6, 2009, 6:00am UTC](https://forums.speedlife.net/t/home-equity-loans/75796 "2009-11-06T06:00:38Z")\
**Posts on this page:** 3\
**Page:** 2

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**Author:** ![slipstreamxk1](https://avatars.discourse-cdn.com/v4/letter/s/6bbea6/32.png) [@slipstreamxk1](https://forums.speedlife.net/u/slipstreamxk1)\
**Post date:** [November 12, 2009, 11:01am UTC](https://forums.speedlife.net/t/home-equity-loans/75796/21 "2009-11-12T11:01:48Z")

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hsbc has some really good rates right now.

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**Author:** ![00Audi00](https://avatars.discourse-cdn.com/v4/letter/0/7ab992/32.png) [@00Audi00](https://forums.speedlife.net/u/00Audi00)\
**Post date:** [November 12, 2009, 9:35pm UTC](https://forums.speedlife.net/t/home-equity-loans/75796/22 "2009-11-12T21:35:06Z")

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You pay taxes on your property’s assessed value not your appraised value. Most financial institutions will only lend 80% of your property’s appraised value. In most cases if your property is worth $100k and your mortgage balance is $40k than you have $40k in available equity. Two main factors outside of your property value when pursuing a Home Equity Loan is your personal credit history and debt to income ratio. In many cases if you have an abundance of revolving debt (Credit Cards/Personal Lines of Credit) than you may be required to payoff a portion of this debt in order to qualify. Your revolving availability is simply the amount of credit you have available against the amount you have in use. So if you have two $5k credit cards with a total of $3k outstanding than your revolving availability is 70%.

First Niagara Bank was offering 3.99% on HELOC during the summer. I’m not to sure what our rates are now.

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**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\
**Post date:** [November 13, 2009, 9:35am UTC](https://forums.speedlife.net/t/home-equity-loans/75796/23 "2009-11-13T09:35:30Z")

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^^  
what he said.

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