Tapping into Your Home Equity

Do you need to tap into your home's equity to pay for a home remodeling project or to pay off a credit card? With a home equity loan, a fixed or adjustable rate loan is secured by your home equity. You borrow a lump sum to be paid back monthly over a set period of time, just like your first mortgage agreement. The terms "home equity loan" and "second mortgage" may be used interchangeably.

Home Equity Loan Specifics

The process for a home equity loan is similar to getting your original mortgage loan. Some distinctions are though, that the interest rate with a home equity loan is usually more (with tax-deductible interest) with smaller closing costs.

If you'd like to qualify for a second mortgage, you will need a positive credit score and you should be able to document your salary. To assess your home's market value, your lender will require a home appraisal. To check on your home equity/second mortgage loan choices, call us at 5626935048.

Have questions about your home equity? Call us at 5626935048. Nationwide Home Loans answers questions about home equity every day.

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.

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Nationwide Home Loans

NMLS #238531| CA BRE #01017101

16211 Whittier Blvd.
Whittier, CA 90603