HOME
EQUITY LOANS use
your home's current property value as collateral for financing
nearly anything you want to do.
SECOND
MORTGAGES
use your home's property value to create a
new mortgage loan along side your 1st mortgage.
Our
experienced staff can help you understand why and which loan programs are tailored to fit with your
current financial situation. Every borrower fits into a certain
financial profile, the key is to find the loan program that you not only
qualify for, but also has guidelines you can live with (i.e. low payment, good
rate).
FREQUENTLY ASKED
QUESTIONS
...ABOUT
HOME EQUITY LOANS
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To make these types of loans
understandable to you, we have
compiled some frequently asked questions to cover any questions or concerns you
might have about these loan programs. If you have another question that
are not addressed in these questions, then please email us. Click on the question for the answer:
-
What
are the benefits of taking out a home equity loan?
-
How
much equity do I need to get a second mortgage?
-
Should
I go to a bank or savings and loan for a home equity loan?
-
What
is the difference between a mortgage broker and a direct lender?
-
Does
SECUREYOURDEBT.COM charge any up-front fees?
-
Can
I obtain a home equity loan without paying points/or closing costs?
-
What is APR?
1.
What are the benefits of taking out a home equity loan?
Taking out a home equity loan
allows you to consolidate other debts you may have or use the equity you've
built in your home to get cash for other purposes, such as home improvement,
financing a child's education, a new car or for other personal needs. In
addition, you can realize:
-
- Consolidating debt from other sources with higher interest rates may mean
overall lower monthly payments - often up to as much as 60% less each month
in payments.
-
- Get a tax deduction on the amount of your home equity loan interest
payments, even if you take cash out to use for other purposes. Consult with
your tax advisor to determine how much of your new loan payment may be tax
deductible.
-
- You can consolidate bills into one monthly payment.
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2.
How much equity do I need to get a second mortgage?
With SecureYourDebt.com, you can get a second mortgage with no equity required
in your home. We offer a range of programs that allow you to finance up to 125%
of the value of your home, unlike many lenders who require a minimum of 20%
equity before considering your equity loan application.
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3.
Should I go to a bank or savings and loan for a home equity loan?
At SecureYourDebt.com, we believe your best
option for a new home equity loan is choosing a mortgage broker like us. This
way, you get the best pricing - because we can get wholesale pricing (like the IMX
Exchange) without a major corporations overhead. So that means we can
focus on searching our huge databases for the 'perfect' loan program that fits
you. You also get the best in service, with online, phone or personal
service from a team of mortgage experts whose only responsibility it is to help
you with your loan.
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4.
What is the difference between a mortgage broker and a direct lender?
Direct lenders (like
Eloan, Ditech & LoansDirect.com) are subsidiaries of large banks or
corporations who service a limited list of loan programs. The problem for
you is that your particular financial situation may not 'fit' into their strict
loan program guidelines. So you then must either accept a loan that is
worse than you anticipated OR get denied altogether, just because of a minor
credit issue.
With a mortgage broker, we
know how to search huge
databases (like the IMX Exchange) of banks all
around America to find that particular loan program that you fit into.
Essentially it's a custom-designed loan program just for your current financial
situation. We all know that everyone wants the best loan program out
there. But the truth of the matter is that not everybody qualifies for
those loans. So when 80% of you, America's borrowers, want a home loan
program, we are here to seek out that unique loan that fits
your situation.
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5.
Does SecureYourDebt.com charge any up-front fees?
No. SecureYourDebt.com offers a no-cost online application.
We invite you to apply now and listen
to what your professional loan advisor pre-approves you for. We are very
confident that our rates, fees and loan programs are among the best in the
industry.
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6.
Can I obtain a home equity loan without paying points and/or closing costs?
Yes, depending on which lender we find fits your needs. SecureYourDebt.com is here to find you out what kind of loan program you want
and then see how close you come to qualifying to that ideal.
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7.
What is APR?
APR is the abbreviation for Annual Percentage Rate. The APR represents the
rate of interest paid on a mortgage when factoring together all prepaid finance
charges and post settlement interest over the life of the loan.
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