Home Equity Loan

Do you need 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." As with your first mortgage, you'll borrow a certain sum of money to be paid back monthly over a certain period of time. The terms "home equity loan" and "second mortgage" can be used interchangeably.

Getting the Loan

You will be familiar with the process as it's much like getting your first mortgage. Some distinctions are though, that the rate of interest with a home equity loan is usually more (with tax-deductible interest) with smaller closing costs.

You will have to provide salary verification and have good credit to qualify for a second mortgage. A home appraisal is necessary to assess the home's market value. To check on your home equity/second mortgage choices, contact us at (281) 778-0805.

Have questions about your home equity? Call us at (281) 778-0805. It's our job to answer home equity loan questions, so we're happy to help!

Home Status Report

Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.

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