Home Equity:
Borrower can borrow up to 125% of the loan to value of their house if they qualify.
The Loan Application Process
Home Equity Line of Credit
- You only borrow what you need.
- Pay interest only on what you borrow.
- Flexible access to funds.
- Interest may be tax deductible.
- Rates can change. The maximum interest rate is normally high.
- Payments can change.
- Harder to refinance your first mortgage.
