By Carrie Reeder
Shopping online for a Home Equity Loan lender can make the
borrowing process simple and painless. However, you do need to
be cautious about potential scammers and low-quality loan
companies. To make sure your Home Equity Loan lender is
reputable, look for these three things:
A real phone number and address
As a customer, there may be times when you want to actually
speak with a live person rather than communicating via email
and web forms. Make sure your online lender has a phone number
and address where you can contact them during regular business
hours. Watch out for companies that only send you to an
automated voice mail service, too. Before signing on with a
company, have at least one phone conversation with a loan
A specific list of fees and charges
You'll have to pay fees when you get a Home Equity Loan, so
your lender for a list of their charges. Be cautious of any
company that refuses to give you exact numbers and only offers
vague estimations of what your final charges "might" be. After
reviewing your employment information, taxes, the amount of
your loan and your credit report, your lender should be able
quote you an interest rate and the cost of their fees.
A general "good" feeling
You should feel as if your loan company is working hard for
you. In all interactions with the company, you want to feel as
though the lender is knowledgeable, supportive and competent.
It's important that you believe you can trust your lender,
since you’re entering into a financial contract with the
company. If, at any time, you believe they may be pressuring
you or trying to tack on extra fees, you may want look
elsewhere for your loan.
If you have doubts about an online Home Equity Loan lender,
can check the Better Business Bureau to see if any formal
complaints have been lodged against the company. Consider
asking for professional referrals from real estate agents,
to ensure the lender has a positive past record.
About The Author: Go to
www.abcloanguide.com/homeequityloan.shtml for more Home
Equity Loan Information. ABC Loan Guide's lenders are
and offer competitive rates.