I am looking into taking out a equity loan. I have 100% equity in a 140k home and I would like 85k out of it. I have been looking at rates and have notices that some banks are at 6-7% interest and others are around 10%. Why would there be the difference. Why would anyone take out a loan at a bank for 10% when they can walk down the street and get the same loan for 6%. Can someone please explain this
Orignal From: Why do home equity rates varry so much?
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