Home equity loan

Do you need to tap into your home’s equity to pay for a home remodeling project or to pay off a credit card? A home equity loan is a fixed or adjustable rate loan that is secured by the equity in your home. With a home equity loan, you borrow a lump sum of money to be paid back monthly over a set time frame, much like your first mortgage. The terms home equity loan and second mortgage are often used interchangeably.
 

The process for a home equity loan is similar to your first mortgage. The closing costs is a fraction of what a first mortgage would cost, although the interest rate is higher on a home equity loan, the interest paid is tax deductible.

To qualify for second mortgage, you need to have a middle credit score of 620.  I do have a variety of programs for you second mortgage need whether it a Home equity line of credit or a fixed second mortgage. 

Special for the month of February

6.49% 1 year Fixed rate (owner occ)

Investor rate add .50 to rate.

Minimal fees and very affordable. 

But, I also have other Second Mortgages and Home Equity loans with other lenders.