Home Equity Loans

Secured Loans: TYPICAL 10.9 % APR VARIABLE
Majority of the customers pay less than 10.9% APR.Our rates vary from 7.9% APR Varaiable to 19.9% APR Varaiable. The highest rate is for customers with severe credit problems.
Unsecured Loans: TYPICAL 19.9 % APR VARIABLE
Majority of the customers pay less than 19.9% APR. Our rates vary from 7.4% APR Varaiable to 41% APR Varaiable. The highest rate is for customers with severe credit problems.

Home Equity Loans

Home Equity Loans as the name suggests, are loans secured on the equity of you property. The meaning of Equity in terms of Home Loans means the value of a property minus the owner’s outstanding mortgage balance. Equity helps the owner of the property to apply for a Home Equity Loan to pay off any large debt owed.

Home Equity Loans are available for large amounts and are used for major expenditures. They can be used for Home Renovation, paying off the Mortgage on the property or any other act requiring large amounts. The amount of the loan given generally depends on the value of the property. Credit History of the applicant has a comparatively minor say in the processing of the Home Equity Loan application than it has for an Unsecured Loan.

A Home Equity Loan helps you use the equity in your property to meet your financial needs without having to sell the property. This helps as after the Home Equity Loan amount is paid off, you still retain the ownership of the property and can use it or sell it as per your wishes. Home Equity Loans are also termed as Second or Third Mortgages in laymen terms.

Home Equity Loans are available as a lump sum Loan or as Lines of Credit. Each has its own advantage and its own terms and conditions. In case you want to know more about the differences you may call an independent financial advisor to advise you on the same.

A Home Equity Loan has the following main advantages:

. Larger Amount of Funds

. Competitive Interest Rates

. Competitive Repayment Terms

. Bad Credit history cases are considered.