You don’t have to pay junk fees on your home equity loan

While it is quite easy to get a home equity loan, sometimes borrowers are forced to pay ‘junk’ fees to get their loans. Sometimes, lenders charge you a loan origination fee, appraisal fee, credit report fee, processing fee, underwriting fee, flood certification, funding fee… the list is endless, so it is important that you stay away from such lenders. Mortgage101.com reports:

Virtually every local bank and credit union will eagerly make you a home equity loan or home equity credit line (HELOC) without any junk fees if you have a FICO (Fair Isaac and Co.) score around 700 or higher.

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