Home Equity Loan

In the market for a mortgage? We'd be thrilled to answer your questions about our mortgage offerings! Give us a call at 352-347-3303. Ready to begin? Apply Online Now.

Have you considered tapping into your home equity to send a child off to college, or remodel your home? A fixed- or adjustable-rate loan secured by your home equity is called a "home equity loan." You borrow a lump sum of money to be repaid in monthly payments over a set period of time, like you original mortgage. You can use the terms "home equity loan" and "second mortgage" interchangeably.

Getting the Loan

You will be comfortable with the process as it's much like the process toward your existing mortgage. Some distinctions are though, that the rate of interest with a home equity loan is generally higher (with tax-deductible interest) with smaller closing costs.

In order to qualify for a second mortgage, you will need a positive credit score and you should be able to provide documentation of your income. To determine your home's current value, your lender will ask for a home appraisal. To check on your home equity/second mortgage loan options, contact us at 352-347-3303.

Have questions about your home equity? Call us at 352-347-3303. Mortgage Xperts answers questions about home equity every day.

Get a New Loan Quote

Looking for a new home loan? Fill out the following form to get a fast quote from us.

Contact Info
Property Information
Mortgage Information