Tapping into Your Home Equity

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 home equity loan is a fixed rate or adjustable rate loan that is secured by the equity in your home. You borrow a lump sum to be repaid with monthly payments during a set time frame, similar to original mortgage loan. The terms "home equity loan" and "second mortgage" are often used interchangeably.

Getting Your Home Equity Loan

You'll be comfortable with the process as it is a lot like the process toward your existing mortgage. Some differences are though, that the rate of interest with a home equity loan is usually higher (with tax deductible interest) with lower closing costs.

You will have to provide proof of your salary and have good credit to qualify for a home equity loan. To figure out your home's market value, your lender will ask for an appraisal of your home. To discuss your home equity/second mortgage options, 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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