![Home Equity Loan Closing Costs That You Should Be Aware Of](https://cdn.knowledgedesk.net/assets/Ly9jZ.jpg?eurl=Ly9jZG4ua25vd2xlZGdlZGVzay5uZXQvY29udGVudC5nZXRzbWFydGluc2lnaHRzLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAyMi8wOS9Ib21lRXF1aXR5TG9hbkNsb3NpbmdDb3N0c1RoYXRZb3VTaG91bGRCZUF3YXJlT2YtNTAweDI1MC5qcGc%3D)
Home Equity Loan Closing Costs That You Should Be Aware Of
As soon as you purchase a home, you are eligible for a home equity loan. However, since equity is built slowly over the years, it can take a couple of years for you to qualify for a loan against it. For the home equity loan to be approved, the homeowner must be in ownership of at least an 80% loan-to-value ratio remaining after the home equity loan.
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