The internet contains a wealth of information on home equity loans, as long as you know where to look. Simply using a search engine sometimes just isn’t enough to find what you’re looking for. With mortgage calculators located on our website, as well as informative web pages and a staff ready and willing to help, East West Mortgage is your one stop solution for all of your mortgage needs. East West Mortgage offers great rates as well as quality customer service when it comes to home equity loans.
What exactly is a home equity loan?
A home equity loan is basically a loan that is borrowed against the equity of your home. With equity as your collateral, home equity loans are considered to be a secured debt. Having a secured debt means that the mortgage lender is taking less of a risk loaning you money, due to having collateral, thus, they are able to offer a lower interest rate. Home equity loans are available in either a lump sum, or a revolving line of credit, each with their own advantages. Home owners looking to perform home repairs or need to spend a large amount of money will find that home equity loans are the most efficient way of accomplishing this.
Home Equity Loan Uses
With a wide variety of uses, such as medical bill payments, tuition for family members, home improvements, or debt consolidation, home equity loans offer a level of flexibility few other loans can match. An added bonus that home equity loans have is that the interest rate charged is often tax deductible, as long as the loan is used for its primary purpose.
The FDIC website (www.fdic.gov) contains a wealth of information pertaining to home equity loans to help homeowners decide for themselves. For over 20 years, our loan officers have been catering to the mortgage needs of home owners across the nation. Since our establishment in 1986, we have grown into one of the largest mortgage brokerages in the nation. We focus on customer service and affordable rates, ensuring that we appeal to home owners as well as new home buyers. Our main priority is the client’s complete satisfaction, and our loan officers have been known to go above and beyond to ensure it. For more information on home equity loans, feel free to contact us on any questions you may have.
