High risk consumers have delinquencies, bankruptcies, charge-offs or public record items on their credit report. These are indications to lenders that a consumer has been an irresponsible user of credit, and will likely be so in the future. High risk consumers may only be able to get credit with very high interest rates, if at all.
Annual appreciation you estimate in the home you are purchasing. Not all homes appreciate at all times and can lose value (depreciate) as well.
Any costs other than interest added to the home equity loan. Costs can include any appraiser fees, points paid or other misc. fees. Costs can be paid up front or added to the loan balance.
Annual percentage rate for the home equity loan.
A mortgage loan that allows the borrower to obtain multiple advances of the loan proceeds at his or her discretion, up to an amount that represents a specified percentage of the borrower's equity in property.