If i am given a house that is paid for in full, can I take a home equity loan on the full value?

can I get a mortgage on an already paid for house, or would I refinance although I did not have an original mortgage.

Home equity loans have higher rates than typical mortgages. If you own the home free & clear now, you can do a cash-out refinance, although most lenders will typically only let you take cash out up to 90% of the home's value.

Keep in mind, in either case, you will need to be on the title of the home for at least 6 months prior to taking cash out of the home.

Let me know if you have any questions. I'm including a link to an article that compares home equity loans and cash-out refinances. Best of luck!

I'm guessing that someone gave you the house as a gift or an inheritance?

So long as you own the home and you qualify for the mortgage, you can mortgage it for as much as the lender will allow.

Usually if you go over 80% of the value of the home there will be extra costs. There ar differenet types of loans, make sure you do your home work.

You should go for a proper program with an expert's help for a better management. Check out here for some useful info and tips.http://homeloan.online-assistant.info/ba...

Home equity debt consolidation involves keeping the home as collateral. A home equity loan is a secured loan, as there is collateral provided against the loan. This is why the rate of interest offered for this kind of loan is quite low. A home equity loan for debt consolidation<!--also gives the lender the right to take possession of the house in case the borrower fails to keep up with the scheduled payments. It is advisable only for debtors who are certain of their capacity to make regular payments.

http://mortgages-finance.awardspace.com/

Home equity debt consolidation in California is an option for borrowers who have incurred a large debt. Borrowers opt for a home equity consolidation loan to pay their other debts, and make one payment to one creditor.Before-->taking the loan for debt consolidation, debtors must calculate all the expenses, charges and extra costs that may be associated with the loan.