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Showing 2 home equity loan specialists in Massillon, OH
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Equity First Funding LLC
5877 Longview St SW, Massillon, OH 44646
(888) 614-2111
equityfirstfunding.com
What Does a Home Equity Loan Specialist in Massillon Cost?
Typical costs for a home equity loan specialist in Ohio include an origination fee of 0.5 to 1.5 percent of the loan amount. Appraisal fees range from 300 to 600 dollars. Closing costs may total 2 to 5 percent of the loan amount. These fees vary by lender and loan size. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What does a home equity loan specialist in Massillon do?
A home equity loan specialist in Massillon helps you apply for a loan using your home equity as collateral. They review your credit history property value and income to match you with lenders. They also explain Ohio laws such as the requirement for a written loan estimate within three business days of application.
What are the Ohio rules for home equity loans?
Ohio law requires lenders to provide a Truth in Lending disclosure showing the APR and total finance charges. Borrowers have a three day right of rescission after signing the loan agreement. Specialists must follow Ohio Revised Code Chapter 1321 which governs mortgage lending practices.
How much equity do I need for a home equity loan in Ohio?
Most lenders in Ohio require you to keep at least 15 to 20 percent equity in your home after the loan. This means your loan amount plus your existing mortgage cannot exceed 80 to 85 percent of your home appraised value. A specialist can calculate your maximum loan based on your specific property value.