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PRIME RATE: 3.25%
- 80% Cash Out Available
- Fixed Rate or Home Equity Line
- No Closing Cost Second Mortgages
- 80% Cash Out Available
- Fixed Rate or Home Equity Line
- No Closing Cost Second Mortgages
Home Equity Loan Programs
Call Us 800-870-1041
Home Equity Lines of Credit (HELOC) - offers interest only loan payments and the ability to draw as much
money as you need when you need it. The interest up to 100% of the value of the home can be tax deductible.
HELOC terms can be 10, 20 or 30 years and some have Interest Only Payments for the first 10 years. Stated
Income 2nd mortgages are also available to borrowers.
Also most of our Home Equity Lines of Credit have " No Closing Costs ".
Fixed Rate Second Mortgage - gives borrowers the benefit of having a fixed monthly payment and a fixed interest
rate. The loans terms are typically a 10, 15, 20 or 30 year term. Stated income second mortgage loans are also
available to borrowers. Fixed Rate Mortgages also have a "No Closing Cost" loan available.
money as you need when you need it. The interest up to 100% of the value of the home can be tax deductible.
HELOC terms can be 10, 20 or 30 years and some have Interest Only Payments for the first 10 years. Stated
Income 2nd mortgages are also available to borrowers.
Also most of our Home Equity Lines of Credit have " No Closing Costs ".
Fixed Rate Second Mortgage - gives borrowers the benefit of having a fixed monthly payment and a fixed interest
rate. The loans terms are typically a 10, 15, 20 or 30 year term. Stated income second mortgage loans are also
available to borrowers. Fixed Rate Mortgages also have a "No Closing Cost" loan available.
Home Equity Loan Programs
The equity in your house can be taken out and used to perform any number of functions
such as home improvements
putting cash in an investment vehicle
to consolidate bills.
Considering that interest rates are so low and that many people have already refinanced it would not make sense for
those people to refinance their existing low rate first mortgage at a higher interest rate unless it was absolutely
necessary. A second mortgage can be the right choice for these people that don't wish to refinance, pay a higher
rate and pay closing costs again. Most of the Second Mortgage Options that we offer have no closing costs.
such as home improvements
putting cash in an investment vehicle
to consolidate bills.
Considering that interest rates are so low and that many people have already refinanced it would not make sense for
those people to refinance their existing low rate first mortgage at a higher interest rate unless it was absolutely
necessary. A second mortgage can be the right choice for these people that don't wish to refinance, pay a higher
rate and pay closing costs again. Most of the Second Mortgage Options that we offer have no closing costs.
Your monthly payments can often be reduced by 50% by paying off your high interest credit card debt
through a low rate second mortgage that is also tax deductible. Second Mortgages can often provide people with a
great way to manage there bills by consolidating and leaving themselves with only two payments, a 1st and 2nd
mortgage payment.
Perhaps the biggest advantage to a second mortgage is that you will not have to pay mortgage insurance
(PMI). Mortgage insurance is added to the monthly payment if the 1st mortgage loan amount exceeds 80% of the
value of the home. In most cases this can add hundreds of dollars to your monthly housing payment which is not
tax deductible unlike a second mortgage.
through a low rate second mortgage that is also tax deductible. Second Mortgages can often provide people with a
great way to manage there bills by consolidating and leaving themselves with only two payments, a 1st and 2nd
mortgage payment.
Perhaps the biggest advantage to a second mortgage is that you will not have to pay mortgage insurance
(PMI). Mortgage insurance is added to the monthly payment if the 1st mortgage loan amount exceeds 80% of the
value of the home. In most cases this can add hundreds of dollars to your monthly housing payment which is not
tax deductible unlike a second mortgage.
| Taking out a Second Mortgage is usually the first choice for most homeowners looking to borrow money use of the flexible terms and low interest rates. |
On Dec.16th The Federal Reserve lowered the Fed Funds Rate by 0.750%. This action lowered the Prime Rate from
4.00% down to 3.25%. The Fed Fund Rate of 0.25% is the rate that banks charge each other for overnight loans.
This rate reduction immediately lowered the Prime Rate which directly affects the interest rate you would receive on a
Home Equity Line of Credit, Fixed Second Mortgages, credit cards and short term loans.
4.00% down to 3.25%. The Fed Fund Rate of 0.25% is the rate that banks charge each other for overnight loans.
This rate reduction immediately lowered the Prime Rate which directly affects the interest rate you would receive on a
Home Equity Line of Credit, Fixed Second Mortgages, credit cards and short term loans.