There are mainly two types of Home Equity Loans: a) a fixed rate 2nd trust deed, referred to As a Home Equity Loan and b) an adjustable Home Equity Line of Credit.
A Home Equity Loan is typically a fixed rate 2nd trust deed up to 100% of the homes appraised value. You can use the money for anything you choose. You can expect to receive a fixed rate for terms as low as 10 years up to 25 years. The payments and fully amortized and will require some closing costs.
A Home Equity Line of Credit is an adjustable rate 2nd trust deed, typically based on the current PRIME rate + a %, ranging from 0%-3%, depending on credit history, amount of equity, etc.up to 100% of the homes appraised value. You can use the money for anything, including debt repayment, college tuition, investments for other real estate, etc. The payments are typically interest only for up to 10 years with a repayment period thereafter for an additional 10-20 years. THE HOME EQUITY LINES OF CREDITARE USUALLY AVAIALBLE WITH NO CLOSING COSTS! There are certain requirements for the NO CLOSING COST LINE OF CREDIT!
Call us today to see if you qualify for a NO CLOSING COST HOME EQUITY LINE OFCREDIT!
Top 10 Reasons to Take Out California Home Equity Loans.
First, a home equity loan is no cost to you.
An equity loan has tax deductible interest.
You could be debt free and only have 1 payment each month... imagine that!!!
Your home equity line of credit can assist you with your home improvements costs. Perhaps a new pool, room addition, or any other remodel of your home.
You could take that dream vacation to anywhere in the world that second Honeymoon you've been dreaming about.
A line of credit can pay college tuition for your children and we can never start investing too early.
|Why not open a home equity loan to buy a second home? Buy a vacation home at the river, in the mountains or at the beach.
Use the line to purchase investment property.
Start doing what you love. Start your dream business with confidence.
Derek Beisner and the Premier Lending Group offer no draws, so no payment. You can have money sitting there for a rainy day!
Click Here to apply for your California Home Equity Loans now!
