Equity Loan Information

Home Equity Loans Interest Rates?

Im wanting to finance a pool with a home equity loan. Does that loan effect my current interest rate on my mortgage, or are they seperate?

Public Comments

1. They are completely separate. You have a contract with the company that holds your mortgage and that is whatever it is. If you get a home equity, even if it is with the same company, that is a separate account with it's own agreement.
2. They are separate. Check into a home improvement loan while looking at the home equity loan. You may have more benefits that way.