Home Equity Loan

Have you considered tapping into your home equity to send a child off to college, or remodel your home? With a home equity loan, a fixed or adjustable rate loan is secured by your home equity. Similar to your first mortgage, you borrow a certain sum of money to be repaid monthly over a period of time. A home equity loan might also be referred to as a second mortgage.

Getting the Loan

Getting your current mortgage is a similar routine to that of a home equity loan. Some distinctions are though, that the interest rate with a home equity loan is usually higher (with tax-deductible interest) with smaller closing costs.

You'll have to provide proof of your salary and have a reasonable credit score to qualify for a home equity loan. To figure out your home's current value, your lending institution will require an appraisal of your home. To explore your home equity/second mortgage choices, contact us at (512) 422-9036.

Have questions about your home equity? Call us at (512) 422-9036. We answer home equity loan questions questions every day.

Quick Quote

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Basic Loan Information