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Call Toll Free: 1-866-503-7334
A
home equity loan is a fixed or adjustable rate loan that is secured by
the equity in your home
Do you need to tap into your home's equity to
pay for a home remodeling project or to pay off
a credit card? 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.
Apply Online
The process for a home equity loan is
similar to your first mortgage. The closing
costs
are
usually lower and, although the interest rate
is higher on a home equity loan, the interest
paid is tax deductible.
To
qualify
for
second mortgage, your credit must be in good
standing and in most cases, you must be able to
document your income. An appraisal will be
required on your home to determine the home's
market value.
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American Mortgage Finance, Inc.
Toll Free: 1-866-503-REFI
email:
info@americanmortgagefinance.net
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