Home Equity Loans - Online Home Equity Loan - Line of Credit

Home Equity Loans are definately made very simple through your service and the rates are most competitive!
M. Bartholomew



More Info

Home Equity Loans vs. Home Equity Line of Credit (HELOC)

Getting a home equity loan means that a lender will loan you money on the amount you have invested in your home (equity). This type of loan is popular because it is highly customizable. Loan officers consider the amount of equity you have in your home, your credit, the purpose of the loan, and the repayment terms you desire. Lenders usually will lend up to 125%, with repayment terms being five to fifteen years. These type of equity loans are normally given in one lump sum with the loan being paid back with a fixed interest rate in regular monthly payments. Equity loans of this type are smart if you are on a set budget and you know exactly what you are needing the loan for. FYI: These loans are also called second mortgages, or term equity loans.

Are you are wondering what the difference between a home equity loan and a home equity line of credit is? A home equity line of credit is a very flexible loan. The line of credit works like a revolving credit card account (with a much lower interest rate). You are still borrowing on the equity you have in your home, but you may borrow what you need only when you need it. The interest rates on a home equity line of credit are variable, and you can borrow and repay throughout the life of the loan.

Refinancing Your Home

Home equity loans and lines of credit should not be confused with refinancing. When you refinance your home, you are actually taking out a whole new loan on your home. Many people do this to save money if interest rates lower, shorten repayment terms, and lower monthly payments.

At National Home Equity Loans, our loan professionals will guide you through the entire process to obtaining all types of home equity and refinance loans. If you are undecided on the type of equity loan you are looking for, just ask the team at National Home Equity Loans.


Home | Online Loan | FAQ | Line of Credit | Refinancing
Email | Directory | Site Map | NearMePayday.loan - Henderson, NV

Get A Home Equity Quote
Home Equity Line of Credit
Home Equity Loan Refinancing
Email Us
Loan Directory
Site Map
Copyright © www.NationalHomeEquityLoan.com 2020