Compare Home Equity Loan Rate
East West Mortgage will do their best to offer you one of the lowest rates for a home equity loan. You can compare our home equity mortgage loan rate to other companies and we will try to beat it, if you are not satisfied with what we have offered. We understand being a homeowner may be a struggle sometimes. With a home equity loan, if you have equity built up in your home; you may use it as collateral.
The money that you receive from a home equity loan may be used for a variety of reasons. You can consolidate your debts which is a good thing for your credit score, home improvements for your home that might make a difference in your living environment, or just use on any other expenses that you may have had in mind. East West Mortgage offers fixed rates and adjustable rates.
Home Equity Loan Rate
Fixed Rate is good for when you currently have an adjustable rate mortgage and are concerned about the rising rates; you may look into refinancing with a fixed rate. With a fixed rate you can lock in your interest rate at a low fixed payment and pay off your existing loan sooner. You can choose from the term that suits you best: 10, 15, 20, or 30 years. With a fixed rate you get the benefit of a 45-day rate lock option, interest only option available, and no prepayment penalty.
Adjustable Rate should be considered adjustable rates if you are planning to stay in your home for only a few years (3-5 more years). ARMs have a lower interest rate if being compared to a 30-year fixed rate. For the first 1, 3, 5, or 7 years the rate and payment will not change. Although fluctuations in the market rates change, ARMs change periodically. Adjustable rate mortgage has the benefit of free 45-day rate lock; interest only option available, and no prepayment penalty.
Come and consult one of our home mortgage lenders more about our home equity loan rates; we will be sure to work something out with you. Contact us today to get started.
