Georgia
Home Equity Loans
Get a great interest rate with our Georgia Home
Equity Loan/ HELOC Financing program. We can also refinance your
current Georgia mortgage. Apply Online
or call one of our Georgia brokers Call Now 808-357-5326.
What is home equity?
A Geogia Home Equity Loan can help get cash out
of the ground and into your hands thanks to your equity.
Home equity is the difference between the amount
you owe on your home and the amount your home is worth. Homes
appreciate in value over time as you continually pay off the principal
of the loan. These two factors increase the "equity"
of your home. There have been times where the value of a home
has doubled or tripled in value in a few short years. This can
drastically increase your home equity.
What is a home equity loan or HELOC?
A home equity loan or home equity line of credit
(HELOC) is a second mortgage that allows you to borrow the money
tied up as equity. What you do with the money is up to you. You
could spend it on improvements and further increase the value
of your home or put it into a high yield investment account and
have it make you even more money. It is also not uncommon to see
the money go to higher education costs or medical bills.
Home equity loan vs. HELOC, what is the difference?
A home equity loan is a one-time sum of money that
is paid back in fixed amounts over the length of the loan. A HELOC
is a line of credit and money can be withdrawn at intervals and
works much in the same way as a credit card. You can pay only
the interest, or you can pay off the principal as you see fit.
Lenders will often issue a credit card for a HELOC and it works
the same way. The difference is that you are borrowing money from
your own equity.
HELOC vs. a credit card?
If a HELOC works just like a credit card, why not
just continue to use credit cards? There are some key differences
that make a HELOC more attractive.
Is it difficult to get this type of financing?
The short answer is no, not with a little help.
You will need an appraisal to get an accurate estimate on your
property value. You also will need to have your income verified,
but since you already have a mortgage loan, it is not a big deal
to secure additional financing.
As professionals in the mortgage lending industry,
we have built our reputation on providing outstanding service
to our clients. This means you can count on us to always look
out for your best interests, and to keep you informed throughout
every step of the lending process. Customer satisfaction is the
cornerstone of our business.
Please do not hesitate to call toll free 888-694-0455
if you have questions about the information you find here on our
web site. You will be glad you did.