Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
Many people wonder whether they can qualify for a home improvement loan with no equity. While it may be difficult, it is definitely not out of the question. Here are a few things to consider about getting a home improvement loan with no equity in your home.
If you do not have any equity in your home, you may want to consider getting a personal loan instead of trying to get a home-equity loan. A personal loan is going to depend solely on your credit and the amount of income that you bring in. If you have a good credit score and a sufficient income to support the loan payment, you should be able to qualify for a personal loan.
You might also want to consider looking at peer-to-peer loans. A peer-to-peer loan is a loan offered by an individual who has excess money that she wants to lend. You can find these types of loans on any one of the many peer-to-peer lending websites on the Internet. These sites match up borrowers with lenders and take a small fee for their service. They are still going to look at your credit history, but each lender is going to have different criteria from a traditional bank.
- What Lenders Don't Reveal About Home Equity Loans
- 3 Warning Signs of Loan Modification Scams
- 3 Common Short Sale Mistakes
- What To Do When Mortgages Default
- Second Mortgages: Advantages and Disadvantages
- FHA Eligibility with Bankruptcy and Foreclosure
- FHA Loans for a First-Time Home Buyer
- Short Selling a Rental Property
- Appraisal Basics