Home Equity Loans
Looking for extra set of hands for unusual expenses?
A Home Equity Loan is a type of loan in which the borrower uses the equity in a home as collateral. You repay the loan with equal monthly payments over a fixed term just like your original mortgage. The amount you can borrow is usually limited to 85 to 90 percent of the equity in your home. The actual amount depends on your income, credit history, and the market value of your home. Home Equity Loans are attractive to borrowers for several reasons, including:
They typically have a lower interest rate (or APR) than other types of credit.
They are easier to qualify for if you have less than perfect credit.
Payments on a home equity loan may be tax deductible.
Borrowers can get relatively large loans with this type of loan.
Common Uses of A Home Equity Loan
|HOME IMPROVEMENT PROJECTS
|BUYING ANOTHER PROPERTY
Let Global Home Finance Inc. guide you through the Home Equity Loan process.