Home Equity Loan

	Looking for a mortgage loan? We can assist you! Give us a call at (926) 228-1944. Ready to begin? Apply Here.

Have you considered tapping into your home equity to send a child off to college, or remodel your home? A fixed- or adjustable-rate loan secured by the home equity you have built up is called a "home equity loan." Similar to your first mortgage, you can borrow a certain amount to be paid back monthly over a period of time. The terms "home equity loan" and "second mortgage" are often used interchangeably.

Getting Your Home Equity Loan

Getting your current 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 usually higher (with tax-deductible interest) with lower closing costs.

In order to qualify for a second mortgage, you need to have a positive credit score and you should be able to provide documentation of your income. A home appraisal is needed to determine the home's market value. To discuss your home equity/second mortgage options, call us at (926) 228-1944.

Have questions about your home equity? Call us at (926) 228-1944. We answer home equity loan questions questions all the time.