FixedMortgage.com - Mortgage Made Easy


		New Purchase \| Refinance \| Home Equity

Put the value of your home to work with a home equity loan or a Home Equity Line of Credit (HELOC). Home equity products typically offer lower interest rates than many loan programs, you may be able to borrow up to 100% of the value of your home, and the interest you pay may be tax deductible (consult a tax advisor concerning interest deductibility).

Home Equity Line of Credit

You can use the equity in your home to get a flexible line of credit that you can draw from when you need it, for any purpose. This might be appropriate when your borrowing needs vary over time, or if you want to be able to quickly access funds for emergency purposes. The interest expense is typically tax-deductible (consult your tax advisor concerning interest deductibility).

You can establish a line up to the appraised value of your home, and draw on it at any time. The interest rate adjusts monthly with the Prime Rate, increasing the flexibility of this convenient source of financing.

Feautres of Home Equity Lines of Credit:

5 - 30 year terms
$10,000 minimum loan amount
$2,000,000 (1st lien) and $1,500,000 (2nd lien) maximum combined loan amounts

Home Equity Loans

Home equity loans are used when you need to borrow a specific dollar amount against the equity of your home. They can be used for home improvements, so that what you borrow against your home goes back into your home to increase its value. Home equity loans can also be used for any number of immediate purposes, including refinancing, debt consolidation, vacations, or vehicle purchases.

Fixed Rate Home Equity Loans offer a rate that is fixed for the life of the loan, allowing you to plan and budget without factoring potential interest rate fluctuations.

An Adjustable Interest Rate option is also available for homeowners trying to lower their initial monthly payment obligation.

Feautres of Home Equity Loans:

5 - 30 year terms
$10,000 minimum loan amount
$2,000,000 (1st lien) and $1,500,000 (2nd lien) maximum combined loan amounts