Home Equity Loans

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 uses the equity in your home as collateral. You'll repay the loan over an agreed time period by making payments monthly, like your original mortgage. A home equity loan also can be called a second mortgage.

Getting the Loan

The steps toward a home equity loan are similar to getting your first mortgage. Some distinctions are though, that the rate of interest with a home equity loan is typically higher (with tax deductible interest) with lower closing costs.

In order to qualify for a second mortgage, you need to have a reasonable credit score and you should be able to provide documentation of your income. A home appraisal will be required to calculate the home's market value. To explore your home equity choices, call us at 9727982110.

Have questions about your home equity? Call us at 9727982110. Homewithloan.com answers questions about home equity every day.

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Looking to refinance your home? Fill out the following form to get a fast quote from us.

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4815 State Hwy 121 Suite 2
The Colony, TX 75056