Finding the right home equity loan at Credit Unions, Local and Regional Banks

Finding the right home equity loans does not need to be a trying process, just as applying does not need to be difficult. Take your time. Baby steps.

Some 1st steps: Try your local credit unions. Often credit unions are overlooked which is unfortunate as this is often where you might find the best interest rate and least amount of fees.  Becoming a member of a credit union is not as difficult as once thought. Many community credit unions have open memberships simply by residing in their county, while other’s sometime’s have niche specific qualifications needed to become a member.

Compare the home equity loan lenders that are paying the advertising dollars to attract your eyeballs to their deals and rates. Much of the advertisement that takes place are sponsored results that appear above the standard search results on the major search engines. It is important to note that these advertisers are advertising because they have money to lend (and they know where to find their customers)

Test out the customer service yourself before applying for any of the home equity loans. It’s natural to want to go with a cerntain home equity loan lender if they approve you, BUT read all fine print and test their customer service simply by calling and asking for more specific details. A long hold time for a potential customer is usually a ‘signal’ to the smart comparison shopper.

Finally, try your bank which you have been banking with, especially if you have been with that bank and have a consistent deposit record – income consistency is becoming a factor in today’s economic climate.