These are not true home equity loans, as no home equity or other collateral is required on loans up to $ 7,500. (mortgageloan.com)
This tried - and - true home loan option is especially popular for buyers who plan to remain in their houses for the long term. (smartasset.com)
Note: An appraisal, which tries to estimate true home value, is different from a home inspection, which tries to take inventory of current and potential issues. (pennymacusa.com)