 |
|
|
 |
Cash-Out Home Equity Mortgage Refinance |
|
 |
|
 |
|
Lowest rates from over 50 lenders displayed:
| Loan Name |
Rate |
Pts |
APR* |
As of |
| Equity 125%LTV |
9.5% |
3.0 |
9.75% |
2007-09-19 |
| Equity HELOC |
3.87% |
2.0 |
4.13% |
2007-09-19 |
| Stated Equity HELOC |
8.25% |
2.75 |
8.51% |
2007-09-19 |
| Jumbo Equity HELOC |
7.5% |
1.5 |
7.75% |
2007-09-19 |
All Cash-Out Home Equity Interest Rates
Home equity Lines of Credit payments are interest only for the first 10 years, and during that 10 years, you can use the home equity line amount like a credit card, adding or paying down the balance as needed, and you only pay interest on the portion of the line amount that you use. After the 10 year period, the loan becomes a regular principal and interest loan, and you cannot use the line any more and you just make regular monthly payments until the loan is paid off. Home Equity Line of Credit
For example, let’s say you owe $20,000 in credit card debt at 12% interest rate. Your monthly payment is approximately $500 per month. Your home equity loan monthly payment would be approximately $83.00 per month during the first 10 years.
Home Equity Line of Credit is great for borrowers who want to consolidate debt, take cash out for home improvement, kids tuition or starting a new business. The borrower does not have to refinance their first mortgage. The borrower, often times, does not have to pay for an appraisal or pay any closing costs. There is minimal paperwork and the loans can close very quickly. We offer fixed and adjustable HELOCs. In addition to this, LoanSrc.com offers fixed rate second mortgages for borrowers who do not have perfect credit or very little income.
* |
 |
|
 |
|
|