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Home Equity Loans
A home equity loan (HEL) uses the borrowers equity in their home as a source of collateral. Home equity loans come in handy for financing a college education, paying off high interest credit cards, or making home improvements.
These loans create a lien against the borrower's house, and thereby reduce the actual equity built up in the home. Most home equity loans require good to excellent credit history. Additionally the home cannot be worth less than the proposed amount of the loan (loan-to-value ratios).
At Money Street Mortgage we offer:
If you have been considering a home equity loan and need more information please feel free to contact our office for more information. |
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