+1 vote
I don't have actually have a first mortgage on my home but would like to use a home equity loan to get cash. Doable?
asked Aug 30, 2017 in Home Equity Loans by Erin + Paul

2 Answers

+1 vote
Hey Erin and Paul –

Yes, you can. A home equity loan or line of credit can be a "first" mortgage if there is no existing loan balance against the property.

PM me any other questions if you have them.

- Kimberly
answered Aug 30, 2017 by Kimberly_Richardson (40 points)
0 votes
Yes. If you have no lien on your property, you can get a HELOC  and that lender will be in first position.
answered Feb 7 by GustanCho (107,040 points)
467 questions
607 answers
884 users