[ichabodisitchy]

...holds your mortgage? We are thinking about getting a home equity loan. We need a new roof and our AC unit is making our electric bill sky-high. We've never had a home equity loan before, and I'm just wondering if we should go with the company that holds our mortgage, a different company, or does it matter?Any tips would be helpful as we've never done this before.

[BizGuy]

There may be conveniences with choosing your current mortgage bank, like possibly less paperwork, or maybe no appraisal fee, or a combined bill/payment.But you should really shop around for the best interest rate and lowest total fees. These are much more important that the "conveniences".