01.12.07
Posted in Mortgage Loans, home equity credit at 12:45 am by mark
Home equity loans and lines of credit are commonly used for debt consolidation, educational expenses, unplanned emergencies, home improvements, vehicle purchases, and other gifts and purchases.
| |
Line of Credit |
Fixed Loans |
125% Loan |
| Key Benefit |
Lowest monthly payments of all loans |
Fixed rate and payments |
Borrow up to 125% of the property value |
| Payment Amount |
Interest only (Minimum $100) |
Options available to base payments on 15 or 30 year payback |
Based on 15 year payback |
| Interest Rate |
Fixed Margin, varies with the Prime Rate |
Fixed Rate |
Fixed Rate |
| Loan Amount |
$20,000 to $250,000 |
$15,000 to $250,000 |
up to $75,000 (cash out up to $30,000 and pay off current debts up to $45,000)
|
| Potential Customer |
Bill and Judy have kids heading to college and would like to make improvements to their home. They will need cash on many occasions for both needs, but are not sure when or how much. |
Tom and Kelly want to make some home improvements and pay off some high interest credit cards. They know how much they will need and do not want an adjustable rate loan. |
John and Mary are looking to pay off some high interest loans and credit cards and lower their monthly payment, but have little equity in their home. |
| |
Guaranteed lowest cost Home Equity Loans  |
Low-Rate Mortgage & Home Equity Loans  |
125% Home Loans - Lower Rates at E-Loan  |
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