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Fixed & Adjustable Home Equity Interest Only 100 Percent Loans 80-20 Loans

 

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HOME EQUITY LOAN

Home Equity Loans are Lines of Credit that are usually in a 2nd lien position and are generally used to keep a client out of Private Mortgage Insurance, (we call this a Purchase Money Second) or to Consolidate Bills or to do Home Improvements. This loan does not affect your 1st Mortgage Loan. Home Equity Loans are generally attached to the Prime Rate. There are payment options Fixed OR Interest Only. 

Key Features:

  • Fixed or Interest Only
  • Does not affect 1st Mortgage
  • Line of credit for bill consolidation or home improvement

 

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Last modified: 04/25/06
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