After reviewing the interest rate on your existing mortgage
After reviewing the remaining term on your existing mortgage
The term is shorter the other loans you are considering
If the interest rate and points are higher on a new first mortgage
If there is a requirement of mortgage insurance for a new first mortgage.
A home equity loan can finance home improvements, credit card
or debt consolidation, vacations, college tuition, medical expenses, vehicle or
recreational vehicle purchase or second home - even give you extra cash for