• Do you want to tap into your home's equity to pay for a home remodeling project or to pay off a credit card? A fixed- or adjustable-rate loan that is secured by the home equity you have built up is called a "home equity loan." You borrow a sum to be repaid monthly over a set period of time, just like your first mortgage agreement. People often use the terms "home equity loan" and "second mortgage" to mean the same thing.

  • Home Equity Loan Specifics

    The process for a home equity loan is similar to getting your existing mortgage loan. You'll be pleased to know that the closing costs are smaller with a home equity loan, and even though there is a bigger interest rate than a traditional mortgage, the interest may be deducted from your taxes.

  • You will have to document your salary and have a positive credit score to qualify for a home equity loan. A home appraisal will be necessary to determine the home's current market value. To explore your home equity loan options, call us at (877) 428-6847.