At Home Equity Mart, our number one goal is to help our clients get the best home equity line of credit or 2nd mortgage. If you are seeking a home equity line of credit with interest only payments, featuring an adjustable interest rate, we will connect you to a home equity lender who can meet your expectations for financing. Our company is dedicated to helping your loan process be a stress-free experience so that you keep coming back to us for loans in the future. Apply now for a free, no-obligation home equity quote, and let us help you reach your financial goals today!
A home equity line of credit (HELOC) is one of two types of second mortgage loans secured by the equity in your home. The other is the home equity installment loan. But, the home equity line of credit is becoming more popular than ever for several reasons, For example, a HELOC:
In addition to the above-listed benefits, 100% cash out financing is available, and repayment terms are flexible. For the first few years of the loan (the draw period), borrowers have the options of making interest-only payments, which helps keep these loans affordable. There is also a lot of flexibility in what you are allowed to use the money for. For example, HELOCs help borrowers get cash for the down-payment of vacation homes, pay for college and medical expenses, consolidate debts and for home improvements.
The flexibility of being able to draw repeatedly from the line is what makes the HELOC so popular for on-going home improvement projects. "It's so flexible," says Kellon Tippett, vice president at BB&T Corp.'s direct retail lending division. "You can pay those costs as they come up without having to go back and reapply, so it's relatively cheap for the borrower."
While home equity lines are variable-rate loans, with interest rates tied to a publicly-available index and a fixed lender-specific margin, there are many plans that offer the option of converting the HELOC into a fixed-rate home equity loan. Be sure to look for this flexible option when shopping for your 2nd mortgage line of credit. Also try to get a credit line that has no application fee, usage fees or account maintenance fees because these fees can make your HELOC expensive to maintain.
The other thing to look for is whether or not your home equity line of credit plan has early termination fees. Early termination fees are best described as the HELOC version of a prepayment penalty—if you pay off and close the line early, you could be subject to penalties that could equal the closing costs the lender waived when you initially got the credit line.
According to Glen Silver, a mortgage advisor with Smart Home Equity Loans, "every homeowner should set up a credit line when they do refinance loan, because it is easy and you never know when you will need it.
125% LTV fixed-rate Home Equity loans
No equity needed with our 2nd mortgages that allow you to exceed the value of your home.
Loan to 125% if you have decent credit scores.
Home Equity Loans for people with bad credit
Start re-building your credit today, even if you have a poor past credit history with bankruptcies and late payments. Loans were created, so you can pay off past due loans & bills with a low rate home equity loan.
Debt consolidation home equity loans
Stop the compounding payments that are going up each month. Refinance the interest of your credit cards, and consolidate your bills into a fixed rate loan that is tax deductible.
Home Equity line of credit
Lines of credit offer the flexibility to only pay interest for the amount you access. Home equity lines have adjustable rates that do fluctuate. Get Prime HELOC's now with a lender in your region.
Stated Income Home Equity Lines for self-employed
No income Verification required! If you own your own business this 2 nd is for you!
100% Home Equity financing
Close your purchase loan with no money down by adding a home equity loan to your purchase loan. This will help get rid of mortgage insurance, and you can put your hard earned down payment back in the bank.
Home Equity Loan Quote
Get more information for cash out loans to finance construction for improving your house or consolidating credit cards.
Home Equity and Bad Credit Loans - Homeowners that have issues being reports by Trans Union, Equifax and Experian should consider home equity programs for poor credit.
Cash Out Home Equity Loans
Do you need money quickly, but would rather not refinance your 1st loan? Equity loans have the ability to deliver cash to qualified homeowners quickly and cost-effectively.
Home Equity Credit Lines
HELOCS offer amazing flexibility with financing for homeowners.
Receive helpful advice for refinancing your home mortgage or home equity credit loans.
Talk with a loan professional about consolidating high interest debt. You will need to understand the underwriting standards and equity loan requirements for paying-off debt in a secured loan.
Discuss a 2nd home loan for cash out in an open end line of credit or closed end mortgage for rate and term refinancing.
Get financing approvals to buy a new home. Find lenders for first time home loans and 2nd home financing.
What is a Home Equity Loan?
In most cases home equity credit loans are often considered 2nd mortgage liens because this loan subordinates to the existing 1st lien using the remaining equity you have in your property for the new 2nd mortgage.
Home equity line loans are great financing tools for gaining quick accessing to money or for refinancing revolving debt and student loans.
Homeowners can select from fixed rate home loans or variable rate home equity lines of credit that feature revolving access to your finance your home equity.
Adjustable Rate Home Equity
Fixed Rate Home Equity
Interest Only Home Equity
Refinance Home Equity
Rates on home equity credit lines, 2nd mortgages and house improvement loans are subject to change at any time. The Home Equity Mart.com is an advertiser supported website that provides info about home equity loans and credit lines to consumers at no cost. By clicking "Submit" you are agreeing to have your info shared with one to four lending and other business partners and for them to contact you (including autodialing, text & pre-recorded messaging) via telephone, mobile device and email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list. Use of this site constitutes acceptance of our privacy and disclaimer policies.
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