All About Equity Mortgage Loans


Visitors: 146

Are you in need of an equity mortgage loan? Well, if you're a homeowner and you need a large amount of cash, then a second mortgage equity loan may be your answer. An equity mortgage loan can be used for whatever needs you have. Be it a remodeling project or paying off high interest credit card debt, etc.

These second mortgage loans are not that difficult to qualify for due to the fact that the lender will have your home put up as collateral to secure the loan.

The biggest issue will be the interest rate. If you have good credit you can expect to pay very low interest, generally around prime + 1% or so. But, if you currently have some credit issues going on, you can expect to pay much higher interest rates.

The key is to look at what the money is going to be used for. If you plan on paying off credit card debt, what is the interest rates on the credit cards compared to the rate on your mortgage equity loan? Depending on your credit, it could be a wash.

Many lenders offer great rates on these loans. The important thing is to shop around. Check out several different lenders before making a decision.

You'll find home equity loans with repayment terms of 5-10-15 or even 20 years.

By having a clear understanding of what you need the cash for, and looking around at various lenders, you will find the right second mortgage equity loan that is right for your situation.

All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active and do not edit the article in any way.

By the way, you can learn more about a Equity Mortgage Loans as well as more information on everything to do with home equity loans by visiting us at


Article Source:

Rate this Article: 
Home Equity Loans: Cash Out Alternative to 1st Mortgage Refinancing
Rated 4 / 5
based on 5 votes

Related Articles:

125% Home Equity: No Equity Second Mortgage Loans for First Time Home Buyers

by: Maria Ny (July 02, 2006) 
(Finance/Debt Consolidation)

Nebraska Home Equity Loans - Can You Pay Off a Mortgage with a Home Equity Loan?

by: Jane A. Hale (November 17, 2006) 
(Real Estate)

Home Mortgage Refinancing and Home Equity Loans - How To Shop Lowest Mortgage ..

by: Mark A. Askew (September 24, 2005) 
(Finance/Mortgage Refinance)

Should You Take Second Mortgage or Home Equity Loans

by: Natalie Aranda (March 18, 2007) 
(Real Estate)

Leveraging Home Equity with Negative Amortization Mortgage Loans

by: Keith Hinkley (August 07, 2006) 

Second Mortgage Loans: The Junior Lien Expert for Home Equity

by: Sandy Sarconi (October 26, 2006) 
(Real Estate)

How to Get Home Equity Loans Or Mortgage Refinance in This Tough Environment

by: Bob Randooke (December 26, 2008) 
(Finance/Mortgage Refinance)

Home Equity Loans, Mortgage, and Line of Credit for Your New Married Life

by: Ken Bissonette (December 06, 2005) 
(Finance/Mortgage Refinance)

Why Second Mortgage Rates Are Higher for Home Equity Loans than 1st Mortgages

by: Maria Ny (August 25, 2006) 
(Finance/Mortgage Refinance)

Home Equity Loans: Cash Out Alternative to 1st Mortgage Refinancing

by: Rebecca O'Connor (August 28, 2006) 
(Finance/Mortgage Refinance)