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How many kinds of home equity loan line of credit financing are there?

April 26, 2017financing home equity line of credit loan

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How many kinds of home equity loan line of credit financing are there?

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There are two. One is SIVA. This is where you do not need proof of income, but you still have to show your assets. This reduces the risk to the loan company a little, and therefore the mortgage interest rate will be lower. If you do not have paperwork for the assets either, you will have to go for what is known as SISA. The interest rates will be higher, but if you do not have the paperwork, this is your only choice.