Home Equity Loan

In the market for a new mortgage? We will be glad to assist you! Call us at (888) 496-8704. Want to get started? Apply Online Now.

Have you considered tapping into your home equity to send a child off to college, or remodel your home? A home equity loan is a fixed or adjustable rate loan that is secured by the equity in your home. You borrow a lump sum to be repaid monthly during a set period of time, just like your first mortgage. A home equity loan might also be referred to as a second mortgage.

Getting the Loan

Getting your current mortgage is a process similar to that of a home equity loan. Your closing costs (usually 2-3 percent of the loan amount) are typically smaller and, although the interest rate is larger on a home equity loan, the interest can be tax deductible.

You'll have to document your salary and have a positive credit score to qualify for a second mortgage. To assess your home's current value, your lender will ask for a home appraisal. To talk about your home equity choices, contact us at (888) 496-8704.

Have questions about your home equity? Call us at (888) 496-8704. We answer home equity loan questions questions all the time.

Home Status Report

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