Home Equity Loans

Perhaps you are considering tapping into your home equity to renovate your kitchen, or take care of the balance on a credit card. A home equity loan is a fixed rate or adjustable-rate loan that uses your home equity as collateral. You will repay this loan over an agreed time period by making monthly payments, just like your original mortgage. A home equity loan also can be called a second mortgage.

Getting Your Home Equity Loan

The steps toward a home equity loan are similar to getting your original mortgage. Your closing costs (usually two to three percent of the loan amount) are generally smaller and, even though your rate of interest is bigger on a home equity loan, the interest paid can be tax deductible.

You'll have to provide proof of your salary and have good credit to qualify for a second mortgage. To figure out your home's current value, your lender will ask for a home appraisal. To discuss your home equity options, call us at (562) 693-5048.

Have questions about your home equity? Call us at (562) 693-5048. We answer home equity loan questions questions all the time.

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.

Your Information
Property Information