Get the details on home equity loan and a credit line. East West Mortgage’s home mortgage lender has the tools and information to well inform their borrowers on each. A great time to consider a home equity loan is when you are in need of some extra cash. In order for homeowners to own or improve their property is determined by what funds they have invested in their property; that is what the equity consists.
Home Equity Loan
• You get the borrowed money in a lump sum immediately.
• Interest at a fixed rate.
• Each month is the same monthly mortgage payment.
• You get the reward of a low payment option.
• Get the advantage of interest up to 100% tax-deductible.
• Use the money on planned expenses, consolidate your debt, and repair your home.
Line of Credit
• Consumers may borrow money as needed, up to the credit limit.
• Interest at a variable rate.
• Your mortgage payment varies depending on the current market rate.
• The benefit of having lower interest rate.
• Get the advantage of interest up to 100% tax-deductible.
• Use the money to cover life’s unexpected expenses.
If you are not sure as to which home equity loan program is right for you, feel free to come and consult one of our professional mortgage lenders. Your home has probably taken a lot out of you, so why not take a little out of your home for your benefit. Tell us about your financial situation, and we will be able to put together a tailored home equity loan package to suit the needs of you and your family.
