Are there closing costs on Home Equity Loans?

[David Stone]

I'm getting my house apprised and taking out equity for a for a purchase of a duplex. And was wondering if there are closing costs? Also was wondering how quickly this process normally is of obtaining equity?

[Bill Gulley]

Yes, there are closing costs, like your appraisal but some lenders may pay other costs, or you will and they may advance those costs on your account. It shouldn't take more than 30 days, really depends on how quickly they process the application and the title work to be received. 

Ask your lender as to costs!  :)