Home Equity Line of Credit
Depending on the terms of your existing mortgage and your plans for how you'd
like to use the equity in your home, a home equity loan (HELOC) might be a loan
to consider. Home equity loans work well for people who would like to have the
equity in their home available to instantly convert to cash as needed and the
freedom to draw it out and pay it back as often as desired. Many of our clients
use home equity loans instead of credit cards in order to take advantage of
lower rates. Others use home equity loans to pay for home improvements,
vacations, investment properties, or a number of other things.
Ask your loan consultant if a home equity loan might be right for you.
Pre-Qualify Now by clicking Below:
2nd Mortgage/Refinance
Obtaining a second mortgage or refinancing your existing mortgage may be a great
way to convert your home equity to cash, and could save you money in mortgage
insurance costs and interest. We have dozens of different options when it comes
to first and second mortgages. Visit our Loan Programs section for more
information on the different types of mortgages we offer.
A second mortgage/refinance differs from a home equity loan in that the loan is
obtained for a fixed amount rather than an open line of credit. With a second
mortgage, once the loan has been paid back, you cannot re-draw the money back
out.
In the event you are unable to qualify for a mortgage refinance, negotiating a
loan modification may lower your mortgage payment.
Read more about loan
modifications >
Ask your loan consultant if refinancing or obtaining a second mortgage may
benefit your financial situation.
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