Tap into Your Home Equity

Perhaps you are considering tapping into your home equity to renovate your kitchen, or take care of the balance on a credit card. In a home equity loan, a fixed or adjustable rate loan is secured by your home equity. As with your first mortgage, you can 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" are often used interchangeably.

Home Equity Loan Specifics

Getting your first mortgage loan is a process similar to that of a home equity loan. Some differences are though, that the interest rate with a home equity loan is typically more (with tax-deductible interest) with lower closing costs.

If you would like to qualify for a second mortgage, your credit must be in good standing and you must be able to verify your salary. A home appraisal will be needed to calculate the home's market value. To talk about your home equity choices, call us at (281) 778-0805.

Have questions about your home equity? Call us at (281) 778-0805. 1st Credential Mortgage Inc answers questions about home equity every day.

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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