http://www.homemortgageloantime.com/home-equity/home-equity-loan-rate.html The home equity loan rate you qualify for is not reached by simple math. Its a whole mess of equations and outside influences - you will never completely understand your home equity loan rate, but you can come close. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Applying for a home equity loan is a great opportunity for any home buyer - you bought that home, and now you are finally in a position to borrow back some of the money you've already put in ( or gained through today's incredible surge in housing prices!). All you need is to find a home equity loan rate you can manage - and how impossibly hard that might in fact prove to be. Determining your home equity loan rate Like every other type of home loan, the best way to determine your home equity loan rate is to apply with a series of lenders, get as many quotes as possible and compare the responses. Here is what we can guarantee: Home equity loan rates are almost universally more expensive than first mortgage rates. You will almost always have to accept an adjusting rate. These rates are sure to rise. Expect to pay more for your home equity financing and expect to pay even greater amounts as your rates increase with time. However, no matter how disadvantageous your home equity loan rate might appear to be, there are some advantages equity financing has over initial home purchase loans. Getting up to get down! The greatest thing about your home equity loan rate is you wont have to worry about it nearly as long as thee rate attached to your initial mortgage. This goes along nicly with the luxury label we give to equity loans. They aren't really necessary like purchase mortgages, but they might create a much better living situation for you and your family. As luxury financial tools you should expect to pay a little more, and you will. But the demands will be gone eventually, that high home equity loan rate gone forever, while your home and its improvements remain. Sat, 26 Jul 2008 15:00:00 EDT