What is a Home Equity Loan?
Home Equity loans are unique because they act more like credit than a traditional mortgage. They are a great way to finance projects, pay off high-interest debt or fund other things that come up that you don't have cash on hand to pay for.
Home Equity vs. Cash Out Refinance
Both the Home Equity and the Cash Out Refinance offer convenient ways to pay for things without penalties or the burden of high interest rates. The Home Equity loan is a perfect option for those who want to borrow a smaller amount of money, have equity in their home and want to avoid higher closing costs associated with traditional refinancing options. The best way to find out which loan is right for you is to talk to an expert. Smart Home consultants are standing by to do the work for you, free of charge.
What You Need to Know
The Home Equity loan is often the perfect method to secure funds you need for home improvement projects, debt consolidation, making purchases or dealing with other issues that arise where you don't have the option of paying with cash. Each situation is different, which is why we find out all the details of your situation and help you determine the right solution for your needs.
Basically, Home Equity loans act as a line of credit but the interest rates are far lower than traditional credit cards. The benefits are you save money by leveraging the equity in your home that you have earned with your monthly mortgage payments. To learn if a Home Equity is right for you, contact our experts today and let them do the work. We'll look at your current situation, lay out all your options and help you make the best financial decision.
We connect consumers with mortgage experts who provide custom solutions for any situation. We do this by partnering with the companies that provide these services and then letting you, the consumer, decide which solution suits your needs. Our goal is to help you find the right product to give you the very best value for your home financing needs.